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Bank of Baghdad increases its total revenues by 4%

Rocky

Rocky: Admin Assist; Posts : 281327
Join date : 2012-12-21

Post n°1

Bank of Baghdad increases its total revenues by 4%

by Rocky Sun 02 Oct 2022, 6:50 am

Bank of Baghdad increases its total revenues by 4%

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Economy News-Baghdad

In the second quarter of 2022, Bank of Baghdad's pre-tax profit fell 3% from quarter to quarter to $8.2 million, according to a new research study by Rabea Securities. In the second quarter compared to the first quarter, the bank's total revenue increased 4% to $16.7 million.

In addition, according to Al Rabie Securities, the share price of Bank of Baghdad is on the rise, rising 88% over the past 12 months and still has 44% more upside potential than when it peaked on Oct. 2011.

After a change of ownership in 2005, UGB and the Iraqi Holding Company purchased shares in the bank. After a while, Burgan Bank bought the ownership of United Gulf Bank to become the largest shareholder in the company. According to IraqiNews

The Bank of Baghdad achieved the highest return on average equity (ROAE) among the banks listed on the Iraq Stock Exchange, at 12.5% on an annual basis for the previous six months.

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Added 02/10/2022 - 1:51 PM
Update 02/10/2022 - 2:48 PM
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Established in 2006 as a Community of Reality

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