Trade Bank of Iraq - Your Trade and Investment Partner in Iraq

العربية

About TBI

“Introducing modern, innovative baking to the Iraqi market”

TBI was established in July 2003 to facilitate Iraq’s international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Programme. The purpose of the Bank is to be a catalyst for the regeneration of the Iraqi economy ad a force for modernisation.

The Bank quickly developed into a highly credible and effective organization. In a short period of time, TBI built relationships with an international network of 134 prime banks covering 63 cities in 39 countries. An early success was signing agreements with 17 of the largest Export Credit Agencies around the world.

Products & Services

“Strengthening the Bank’s services”

TBI focuses primarily on trade finance and project finance. The Bank issues Letters of Credit, provides direct finance for major infrastructure projects in Iraq and arranges larger loans via groups of banks. TBI is also working on increasing the number of Visa Cardholders and the network of ATMs in Iraq as part of a well-planned strategy.

Doing Business in Iraq

“Iraq is open for business”

The general economic picture has substantially improved.

Major steps have been taken to open up the oil sector to international oil companies. Iraq’s trade volumes continue to grow and substantial investment opportunities are emerging, with promising returns.

News & Achievements

“TBI has a history of being first in Iraq: first bank to automate its banking operations; first to issue Visa cards; first to introduce ATMs”

TBI continues to work towards strengthening the Iraqi private banking sector and modernising the banking industry as a whole. Our branch network is expanding and our correspondent bank network growing.

Business Partners

“Our correspondent network consists of well regarded banks and our client base includes public and private sector institutions.”

TBI has built relationships with a network of 134 prime banks covering 63 cities in 39 countries.

The Bank has since widened its international banking network beyond the original Consortium Banks as part of a strategy of attaining wider geographic reach, and greater diversity of services.

Timeline

2003

Establishment of the Bank in July

Fully capitalised at over US$100m

Established a relationship with a consortium of banks

2004

US$5.5m net profit

US$555,000 net revenue

US$149m total assets

Signed agreements with ECAs in 17 countries

2005

US$34m net profit

US$38m net revenue

US$1.1b total assets

First distribution of Visa Credit Cards

Installation of the first ATM in Iraq

Further development of correspondent relationship with correspondent banks

2006

US$100m net profit

US$125m net revenue

US$2.8b total assets

First fully automated online banking system

Development of a network of ATMs in

Started channelling Public Sector L/Cs to private sector banks in Iraq

2007

US$255m net profit - 155% increase

US$296m net revenue - 137% increase

US$6.1b total assets

First fully automated online banking system in Iraq

Development of a network of ATMs in Baghdad

2008

US$359m net profit - 41% increase

Achievements

TBI is the first to issue credit cards in Iraq

Find out more

Key Facts

TBI Branches

Trade Bank of Iraq started with one branch in 2003. Now the bank has fifteen branches across Iraq and it keeps expanding.

A proven track record in investment in Iraq

Serving public and private sector, since its establishment in July 2003, the Trade Bank of Iraq has adopted a prudent policy carry on the economic momentum to play an active role in supporting both the economic and the banking sectors in a new Iraq. TBI was able to provide banking services and facilities to a wide range of individual clients.

Hamdiyah Al-Jaff

Acting General Manager of Trade Bank of Iraq

Final Results for the Year to 31 December, 2010

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%

Trade Bank of Iraq Sponsors Economist/EIU ‘Iraq Business Investment Summit’, 29 September 2010

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

About TBI

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.