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Bank of Baghdad increases its total revenues by 4%
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Economy News-Baghdad
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Added 02/10/2022 - 1:51 PM
Update 02/10/2022 - 2:48 PM
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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.
Views 28
Added 02/10/2022 - 1:51 PM
Update 02/10/2022 - 2:48 PM
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