The Iraqi Trade Bank transfers 50% of its profits to the state treasury

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The Iraqi Trade Bank transfers 50% of its profits to the state treasury

Post  Admin on Mon Apr 03, 2017 7:53 pm

The Iraqi Trade Bank transfers 50% of its profits to the state treasury
April 3, 2017 | 10:03 PM



Iraqi Position Network

The Iraqi Trade Bank "TBI", transferred 50% of its profits for the year 2016 equivalent to 268 billion Iraqi dinars, to the State Treasury.

The bank said in a statement that it was aware of the "Iraqi position" that within the axis of reforms and support for the economy, and according to the directives of Prime Minister Haider Abadi, the Iraqi Bank of Trade "TBI," transferred 50% of its profits for the year 2016, equivalent to 268 billion Iraqi dinars to the Treasury Of the State.

He added that the bank achieved a net profit of 536 billion Iraqi dinars for the fiscal year ended 31/12/2016, an increase of 265% from the net profit achieved in the financial year ended 31/2/2015, which was 145 billion Iraqi dinars.

The Iraqi Trade Bank is working to promote banking services through the settlement of salaries and encourage electronic payment in addition to the introduction of new products, including a certificate of deposit worthy.

It is worth mentioning that the Iraqi Bank for Trade implemented the first syndicated loan in Iraq for the Ministry of Electricity in cooperation with Standard Chartered and General Electric, and is currently in cooperation with Duijah Bank, managing the issuance of international documents for Iraq

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