TRADE BANK OF IRAQ ("TBI")

Final Results for the Year to 31 December, 2010

FINANCIAL HIGHLIGHTS

The highlights for 2010 include:

• Profit for the year up 18% to $361m (2009: $305m)
• Total operating income up 18% to $400m (2009: $338m)
• Fees and commission income up 68% to $111m (2009: $66m)
• Net interest income up 2% to $153m (2009: $150m)
• Total assets increased 16% to $15 billion (2009: $13 billion)
• Shareholders' equity increased 31% to $1.5 billion (2009: $1.2 billion)
• Customer deposits increased 15% to $13 billion (2009: $11 billion)
• Tier 1 Capital ratio increased 11% to 24.17% (2009: 17.96%)
• Return on Assets increased 2% to 2.41% (2209: 2.35%)
• Return on Equity is now 23.85%

We at TBI were proud to be the Founding Sponsors of the Economist/EIU Iraq Business Investment Summit, which took place on 29th September at the Ritz Carlton Hotel, Bahrain.
 
Delegates agreed that the variety of expert opinions at the conference provided a realistic context for the opportunities as well as the issues involved in investment and trading in Iraq.
 
It was thanks to the distinct backgrounds of people who attended, debated, asked questions and networked that the forum displayed such intellectual capital and stimulating discussion. Notwithstanding our delegates' varying inputs; we were unified in our interest in Iraq and in seeing the country develop and prosper.
 
We are grateful to the experts from The Economist Group who moderated the event, and to the top-level speakers from the Iraqi government and international business who generously gave their time to share their views with us. The conference allowed senior executives to take part in a critical discussion with their peers on Iraq's investment future, in which we at TBI believe so profoundly

Trade Bank of Iraq publishes its 2009 Annual Report

Trade Bank of Iraq (TBI) revealed in its Annual Report 2009 how it has helped to reinstate Iraq in the league of modern banking, play an instrumental role in the regeneration of the national economy and build international relationships that contribute significantly to global trade.

In a very short time, TBI has established both a proven track record and a strong sense of the future.  As a result, TBI is acknowledged as the Bank at the heart of the regeneration of Iraq's economy.

2009 Financial Highlights:

• Total assets increased from US$10.39 billion to US$12.98 billion up 25%
• Total deposits US$11.4 billion up 34%
• Net profits at over US$305 million
• Paid in capital over US$427 million

TBI has grown by more than 2,000% since launch as Iraq has moved from a centralised economy to a free market, on the brink of prosperity.

TBI was established in July 2003 to facilitate Iraq's international trade and the country's reconstruction after the expiry of the UN's Oil-for-Food Programme. Today, TBI has moved far beyond funding basic humanitarian needs and now provides comprehensive banking services to Iraq and its people. 

The Bank plays a major role in promoting international trade and foreign investment in Iraq.  It currently has a total of 15 branches in Iraq with plans to expand internationally.

In 2010, TBI won the Exporta 'Best Business Continuity Bank in Iraq' and 'Best Trade Finance Bank in Iraq' awards and the EMEA Finance 'Best Local Bank in Iraq' award.