Home
Source: UAE - 03/02/2012
«Bank of the North» Iraqi achieve the highest profit among the private banks
He legged on the banking sector, that the profits made by the «North Bank for Finance and Investment» last year, amounting to 42.7 billion dinars, is «the highest in the history of Iraqi private banks». They noted that the cash credit with the bank of 268.5 billion dinars is «Top also compare the cash credit account with other banks the 35».
And showed the financial position of the bank «the most important positive data a record profit of 42.7 billion dinars, or 24 percent of the bank capital of 175 billion dinars (about $ 145 million). The bank is expected to announce at its annual meeting scheduled end of February next, the capital increase to 210 billion dinars, taking advantage of the capitalization of profits.
It was also noted the high expense of fixed assets of 121.3 billion dinars, the highest in the capital of private banks $ 100 billion dinars, representing most of these buildings, bank assets and current projects.
The Chairman of the Board of Directors of the Bank Nawzad David Fattah, dry in a statement to «life», the importance of activating the Banking Act to allow the sector to enter into the investment process of wider doors, especially at the level of granting long-term loans, help the investor to expand its activities in the field of development » . He believed that «the mechanism adopted in the granting of loans is not consistent with the requirements of the stage that needs the support of investors, which requires amendment of the law to expedite the banks». He stressed that the sector «enjoys the confidence of the citizen», pointing to the «an increase in deposits to become outstanding figures among the other banks».
[You must be registered and logged in to see this link.]
«Bank of the North» Iraqi achieve the highest profit among the private banks
He legged on the banking sector, that the profits made by the «North Bank for Finance and Investment» last year, amounting to 42.7 billion dinars, is «the highest in the history of Iraqi private banks». They noted that the cash credit with the bank of 268.5 billion dinars is «Top also compare the cash credit account with other banks the 35».
And showed the financial position of the bank «the most important positive data a record profit of 42.7 billion dinars, or 24 percent of the bank capital of 175 billion dinars (about $ 145 million). The bank is expected to announce at its annual meeting scheduled end of February next, the capital increase to 210 billion dinars, taking advantage of the capitalization of profits.
It was also noted the high expense of fixed assets of 121.3 billion dinars, the highest in the capital of private banks $ 100 billion dinars, representing most of these buildings, bank assets and current projects.
The Chairman of the Board of Directors of the Bank Nawzad David Fattah, dry in a statement to «life», the importance of activating the Banking Act to allow the sector to enter into the investment process of wider doors, especially at the level of granting long-term loans, help the investor to expand its activities in the field of development » . He believed that «the mechanism adopted in the granting of loans is not consistent with the requirements of the stage that needs the support of investors, which requires amendment of the law to expedite the banks». He stressed that the sector «enjoys the confidence of the citizen», pointing to the «an increase in deposits to become outstanding figures among the other banks».
[You must be registered and logged in to see this link.]
