China & Gulf expansion to boost Trade Bank of Iraq's revenues: chairman - Reuters:
State-owned Trade Bank of Iraq (TBI) is expanding into China and the Gulf, seeking to lift its revenues from retail banking and international operations to 30% by 2022 from 25% now, its chairman said on Sunday.
The bank plans to open a representative office in China next year and is upgrading its license in Abu Dhabi to an asset management company from a representative office.
TBI’s revenues totalled $550 million in 2018 with trade finance contributing the lion’s share. Its retail and international operations business accounts for 25% of its revenues.
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