By Mark DeWeaver. It’s been lackluster year for the ISX-listed banks. Total pre-tax profit for the 12 non-Islamic lenders that have reported so far fell 12% in the first half on a 3% decline in operating revenue, an 8% increase in operating expense, and a 21% increase in administrative expense. Earnings dropped at 7 of […]
Tag Archives | North Bank
Tags: Bank of Baghdad, Burgan Bank, Economy Bank, Iraqi Banks, Iraqi Middle East Bank (BIME), ISIS, ISX Iraq Stock Exchange News, Mansour Bank, Mosul Bank, North Bank, Qatar National Bank (QNB), Rabee Securities
North Bank “in Good Position for Growth”
From Marcopolis. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s North Bank — the largest bank in Iraq (Private) — believes in active involvement in the market, and statics show the bank as the largest in the Republic in giving loans and three times […]
Tags: North Bank
Why I Still Like North Bank
By DeWeaver on 17th May 2013 in Investment, Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
By Mark DeWeaver. I thought Sansar Capital’s recent report on the Iraqi banks was excellent. But I was surprised by its somewhat negative take on North Bank (BNOR). In particular, I found myself not entirely convinced by the following three points, which form the basis for their bearish case: Insufficient collateral for overdraft lending is […]
Major New Report on the Iraqi Banking Sector
Singapore-based Sansar Capital Management has issued a comprehensive new report on the Iraqi banking sector. The report finds that while the mix of an improving macro environment and security situation offer attractive investment ingredients, many challenges remain for those interested in participating through public markets. Nevertheless, Iraq remains one of the most under-banked countries in […]
Tags: Bank of Baghdad, banking, Dar Es Salaam Bank, Iraqi Middle East Investment Bank (IMEIB), Kurdistan International Bank, Middle East Investment Bank, North Bank, Sansar Capital
Asiacell to be Top Holding in Invest AD’s Iraq Fund
By John Lee. Abu Dhabi’s Invest AD plans to buy into the Asiacell IPO (initial public offering), making it the top holding in its Iraq fund. Sherif Salem (pictured), the manager of the Invest AD Iraq Opportunity Fund, and one of our Expert Bloggers on Iraq Business News, said: “Asiacell is going to be one […]
Tags: Abu Dhabi, Asiacell, Euphrates Iraq Fund, Invest AD, IPO, North Bank, UAE, United Arab Emirates
Private Bank Earnings Jump 90%
By John Lee. Twenty-two of Iraq’s 30 private banks made a combined profit of $366 million (427 billion Iraqi dinars) during the first nine months of the year, according to a study released by the Association of Private Banks in Iraq. Al-Hayat newspaper says this is a 90 percent increase in profits over the same […]
North Bank Numbers give Hope to Iraqi Economy
By Sherif Salem. The process of capital formation is underway in Iraq, and that is good news for the grass roots economy. At least that’s what stock market-listed North Bank’s latest earnings results indicate. Iraq’s gross domestic product has been growing at a rapid pace, but that’s mostly due to rising oil production and robust […]
Iraqi Co. for Financing SMEs Tops $26m in Loans
By Editor on 7th May 2012 in ‘Your Country’ – United States, Iraq Banking & Finance News, Iraq Industry & Trade News
This week the United States Government, through the U.S. Agency for International Development (USAID), will reach a significant milestone in its efforts to support Iraqi businesses. Loans extended by Iraqi Company for Financing Small and Medium Enterprises (ICF-SME) to develop or expand small businesses will reach a total of $26 million or ID 30.18 billion. […]
Tags: Ashur International Bank, Baghdad Bank, Basra International Bank for Investment, Gulf Commercial Bank, Iraqi Company for Financing Small and Medium Enterprises (ICF-SME), Iraqi Middle East Bank for Investment, Mosul Bank for Investment and Development, MSMEs, National Bank of Iraq, North Bank, Sumer Commercial Bank, U.S. Agency for International Development, USAID, USAID-Tijara Provincial Economic Growth Program
BurgerFuel Enters Iraq
BurgerFuel Worldwide, the New Zealand-based fast food company, has sold the Master License agreement for the rights to BurgerFuel Iraq. BurgerFuel chief executive for international markets, Chris Mason, who is based in Dubai, said: “We’re moving forward in our plans to establish BurgerFuel in the Middle East by adding Iraq to our other territories in […]
ISX volume reveals big money favorites
By DeWeaver on 20th June 2010 in Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
As of June 17, year-to-date average daily turnover on the Iraq Stock Exchange (ISX) has remained subdued at just ID 2.2 billion (US$ 1.9 million). Surprisingly, however, large block trades on just 16 days (8 days in May, 4 in March, and 4 in January) accounted for 48% of YTD total trading. An easy way […]