Bank of Baghdad increases total revenues by 4%
A Bank of Baghdad branch in Beirut.
Baghdad (IraqiNews.com) – In the second quarter of 2022, Bank of Baghdad’s profit before tax fell by 3% from one quarter to the next, reaching $8.2 million, according to a new research study by Rabee Securities. In the second quarter compared to the first quarter, the bank’s overall revenues rose by 4%, reaching $16.7 million.
Additionally, according to Rabee Securities, the share price of Bank of Baghdad is on the rise, having risen by 88% over the past 12 months and still having 44% more upside potential than when it peaked on October 2, 2011.
Following a change in ownership in 2005, United Gulf Bank and Iraq Holding Company bought stock in the bank. After a while, Burgan Bank bought out United Gulf Bank’s ownership to become the company’s biggest stakeholder.
The Bank of Baghdad has the highest Return on Average Equity (ROAE) ratio among banks listed on the Iraq Stock Exchange, at 12.5% annualized for the previous six months.