By John Lee. ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announces that Mansour Bank for Investment, an Iraq-based bank and its partner, Qatar National Bank (QNB) (owns 51%), has selected its global awards winning flagship ICS BANKS to replace its core banking and IT systems. The […]
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Tags: featured, ICS Financial Systems Limited (ICSFS), Mansour Bank, Qatar, Qatar National Bank (QNB)
Bank Earnings Take a Hit
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 […]
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
Economy Starts to Hum, but Projects Need to Ramp Up
By Sherif Salem. As has often been the case in Iraq, developments in recent weeks have inspired both pessimism and optimism. On the one hand, an increase in bomb attacks – with 300 fatalities in April – raised fears of a return to the peak in levels of violence seen of 2005-2006. And events in […]
Tags: Asiacell, Baghdad Soft Drinks, Exxon, Exxon Mobil, ExxonMobil, InvestAD, Mansour Bank, Pepsi, Qatar National Bank (QNB), Sherif Salem
Qatar National Bank Takes Over Iraq's Al-Mansour
By John Lee. Qatar National Bank (QNB) has announced that it has taken control of Iraq's Al-Mansour Investment Bank. It acquired an additional 27.7 percent shareholding for a cash payment of QR425.4 million, bringing its interest in the bank to 50.8 percent. The company said that goodwill of QR117.6 million has been determined on acquisition […]
Qatar National Bank (QNB) Takes Majority Stake in Mansour Bank
Qatar National Bank (QNB) Group announced that it has obtained the approval of the Central Bank of Iraq to increase its stake in Mansour Bank in Iraq from 23% to 51%. As a result of this stake increase, QNB Group will augment its representation on the Mansour Bank’s Board of Directors in proportion to its […]