An international agency that gives an Iraqi bank an internationally recognized credit rating

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The first Iraqi bank to receive an internationally recognized credit rating

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[rtl]Date of release: 2018/12/19 14:37 • 131 times read[/rtl]

 
[size=16]The Fitch Ratings Agency announced on Wednesday that [url=https://www.thebaghdadpost.com/ar/Story/t/67729/%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A %D9%84%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9][size=13]the Iraqi Trade Bank (BTI) was[/url] granted a B-degree with a stable outlook.[/size]
While the Bank stressed that the strength of the balance sheet and the high level of profitability in its business, along with liquidity and diversification strategy behind the classification.
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Wednesday, December 19,

The credit rating agency Fitch announced on Wednesday that the Bank of Iraq (BBI) was granted a stable outlook, while the bank affirmed that the strength of the balance sheet and the high level of profitability in its business, liquidity and diversification strategy behind the classification. 

In a statement, Alsumaria News received a copy of it that "the Iraqi Bank of Commerce was granted a B-degree with a stable outlook, reflecting the decision to commend the institution's continued efforts of the Bank of Iraq to implement its comprehensive program of economic reform."


For his part, said the Chairman of the Board of the Iraqi Bank for Trade Faisal Al-Hims in a statement received Alsumaria News a copy of it, "classification is the first of its kind for Iraqi banks and being in line with the principles of sovereignty in Iraq ," stressing the importance of "the role of security stability in the country during the recent In improving foreign investment indicators and recovering the commercial market. " 

"The strength of the balance sheet and the high level of profitability in the business of the Iraqi Bank for Trade in addition to liquidity and diversification strategy in the corporate sector and retail on the growth rates and employment opportunities resulting from it, and the high creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, in addition to our success in providing Innovative banking products and services that have played an important role in this category. "

The Bank of Iraq's classification of credit rating B - to be the first Iraqi bank to obtain a credit rating official by a rating agency global, the main factors that lead to a positive assessment is to improve the growth prospects and the business environment and security situation, Budget, thereby reducing the debt-to-GDP ratio over the medium term. 

All of the Bank's financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank's overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.

It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank's efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society. 

The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.

It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world. 

At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit. He is considered one of the most important banks in the Middle East for his international reputation, which enabled him to win many awards. This success is attributed to the confidence of customers and citizens in the Bank, which has played a prominent role in maintaining the leading position.




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Thanks Rocky - this is excellent news - 

Fitch grants the Iraqi Trade Bank an internationally recognized credit rating - HUGE - INTERNATIONALLY RECOGNIZED CREDIT RATING - GETTING THERE PEOPLE

Weslin, I don't ever recall them using the word international before when it came to credit ratings.

It only makes sense to me that it would be international because their currency went international almost 2 weeks ago. We are on the home stretch folks ????????????

Fonz, thanks for the reminder -