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FinancialNews


  • 09-07-19

    Iraq: TBI targets China, GCC expansion

    (MENAFN) Trade Bank of Iraq (TBI) is planning to expand its operations to reach countries in the GCC region as well as China by 2022.

    Over a three-year period, the Iraqi state-owned bank decided to increase revenues coming from retail banking and global businesses to stand at 30 compared to the current 25 percent.

    Chairman of TBI Faisal al-Haimus confirmed that the bank has set a target to inaugurate a China-based representative office next year, along with upgrading its license in the UAE's Abu Dhabi to become an asset management company.

    Haimus stated: "with our expansion in China, Abu Dhabi and Saudi Arabia, retail and international business will contribute to 30 percent of our total revenues by end of next three years."

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