Trade Bank of Iraq to open first Saudi branch

Trade Bank of Iraq to open first Saudi branch
The TBI will be the only active Iraqi bank in Saudi Arabia. (Facebook)
Updated 17 April 2019

Trade Bank of Iraq to open first Saudi branch

Trade Bank of Iraq to open first Saudi branch
  • TBI was ranked No. 1 in the cost to income category in the Middle East by The Banker

RIYADH: The Trade Bank of Iraq (TBI) is entering the Saudi market with the opening of a branch in Riyadh on Thursday. It will be the bank’s first operational branch outside Iraq, and the TBI will be the only active Iraqi bank in the Kingdom, TBI Chairman and President Faisal Al-Haimus told Arab News on Tuesday.
On Thursday, a ribbon-cutting event will be held at the Riyadh branch in Al-Olayya district. Attendees on the Iraqi side will include Al-Haimus, the prime minister, the finance minister and the Central Bank’s governor. Saudi officials will also attend.
The TBI’s board of directors has also expressed plans to expand to Turkey.
TBI was ranked No. 1 in the cost to income category in the Middle East by The Banker.