The National Bank of Iraq enjoys international ratings that enhance investment

On Sunday, the National Bank of Iraq announced that it had received a “positive” credit rating from Moody’s and Capital Intelligence, international credit rating agencies. The bank believes that this rating highlights its strong financial position and creditworthiness, which has boosted customer confidence and the confidence of shareholders and investors. This rating has also enhanced the bank’s ability to grow and prosper.

Moody’s rated the bank’s local currency long- and short-term deposits at B3, while Capital Intelligence placed the bank’s foreign currency short-term deposits at B.

In a press release today, the National Bank of Iraq stated that the given classifications are crucial for the bank’s journey towards a brighter future. The bank believes that these classifications confirm its strategy’s soundness, distinguished reputation, and advanced position among banking financial institutions at both the local and regional levels.

The statement mentioned that the National Bank of Iraq has received positive classifications, which has made it a trustworthy source for banking services. This has led to increased customer confidence, resulting in a higher volume of deposits and loan activity. As a result, the bank’s resources have also increased, enabling it to meet the needs of its customers better.
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The statement suggests that the bank’s credit rating serves as a solid indicator for investors and donors of its risk-bearing capacity and potential for sustainable returns. This support reflects confidence in the bank’s management and financial stability and can attract new investments and enhance its capital.

The director authorized by the National Bank of Iraq, Ayman Abu Dhaim, has confirmed that the National Bank of Iraq has received positive credit ratings. The bank’s efforts to improve its financial position, including increasing its capital and enhancing its risk management, have been reflected in these ratings.

According to the statement, the National Bank of Iraq is currently the leading bank in the Iraqi banking market. It has total assets nearing 2.8 billion dollars and has experienced a growth rate of 91% in customer deposits. The bank has an expanding customer base of approximately 200,000 customers, who are served through 27 branches and 200 ATMs. The bank employs over 1,000 people to provide these services.