Economics
Trade Bank of Iraq continues Strong Growth and posts net profit of $566 mn for 2019
The Trade Bank of Iraq (TBI) has reported that it has achieved a “robust growth” in revenues and in key financial areas during 2019. In a statement, the bank said it recorded a net profit of $556 mn in 2019, up by 68% y/y and revenues of $673 mn, increased by 12% y/y. The total assets of TBI grew to $29 bn, up by 27% y/y. The bank said “As part of our strategic plan, we are aiming for bigger retail and international business to achieve a growth rate of 30% of our total revenues, year on year (y/y) basis, in the next three years through new technology-driven, need-based product offerings and international expansion. (TBI)
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