Trade Bank of Iraq Showcases Investment Opportunities in Iraq at Global Trade Review MENA 2020 Summit
Dubai, February 26, 2020: Trade Bank of Iraq (TBI) promoted investment opportunities in Iraq at the Global Trade Review (GTR) MENA 2020 summit held in Dubai and highlighted their commitment towards reconstruction of Iraq through its activities in the trade finance sector.
Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several potential investment opportunities in the region especially in the power sector.
It’s assessed that the real GDP growth of Iraq is expected to grow up by an average of 3.1% by 2023 with non-oil GDP expected to grow tremendously on the back of the reconstruction efforts.
TBI representatives present at the GTR MENA summit highlighted the potential opportunities to invest in the fledgling economy as the country continues to rebuild.
Commenting on TBI’s participation at the GTR MENA summit Faisal Al Haimus, Chairman & President of Trade Bank of Iraq said: “We have seen a lot of success in the recent years and are on the path to bigger things. Our presence at the GTR is a reflection of our ambition to earmark our presence outside Iraq.
“TBI’s total assets has recorded an increase of 27% and our net profits has seen an increase of 68% in the year 2019 compared to the previous year and we are committed to build on this growth.
“We are working on the growth and expansion of our operations and will be soon making a few announcements in the coming days.”
TBI is currently working on expanding its network domestically & Internationally to diversify the sources of revenue from retail banking in Iraq to international operations in order to achieve a 30% compounded annual growth rate envisaged in the bank's business plan for 2020-22.
Home >> Banking & Investments Section
How will billions of muslims preform Hajj in the future?
Saudi film 'Norah' Nominated for Cannes Film Festival 2024
Khabib's Official Training Gloves Will Be Sold at Tooba Charity Auction in Dubai
Formula E and FIA to unveil new gen3 evo race car at upcoming monaco E-prix
Magrabi Eye and Dental Complex Day Surgery Center inaugurates in Makkah
Saudi Investment Recycling Company and SAP extend partnership with new deploymen ...
Victory for Pascal Wehrlein after last Lap Heartbreak for Rowland
Oliver rowland wins misano e-prix opener after antonio felix da costa disqualifi ...
Mitch Evans Looks For Another Italian Triumph As Formula E Descends On Rimini De ...
Hilton Riyadh Hotel & Residences Prepares For A Festive Eid Extravaganza
Watches & Wonders 2024 Unico: Hublot's Manufacture Calibre
Bremont introduces a new generation of its Supermarine diving watch series
Formula E to Use Latest Sustainable Tech to Power its Events Worldwide
Powering Progress: Saudi Electricity Expo to Energise Kingdom's 2030 Vision, Sec ...
Tokyo E-prix Winner Max Gunther Eager to Challenge for Formula E Title
Saudi contribution to WFP will Provide Life-saving Food Assistance to around 378 ...
Saudi Minister of Communications and Information Technology visits Unifonic's ne ...
Saudi Electricity Expo to Help Energise Kingdom's Renewables and Fulfil Power Dr ...
Saudi Exchange Marks a Milestone with its 400th Listed Security
Egis to Provide a Comprehensive Refurbishment and Maintenance Assessment for Kin ...