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About North Bank

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North Bank Profile

Capital:
210 Bn Iraqi Dinars (Completly paid) which considers now the biggest bank capital in Iraq.

Purpose:

To exercise all banking operations and to achieve its mission we utilize the following factors:

A. HUMAN RESOURCES, THE MAJORITY OF OUR PERSONNEL ARE POST GRADUATE, WITH COMPETITIVE COMPENSATION AND POLICY TO TRAIN STAFF ON CONTINUOUS BASIS.
B. FOREIGN PARTENERSHIP TO GET HIGH EXPERIENCE.
C. STRONG FINANCIAL STANDING.
D. OTHER ASSETS.

It is a private joint- stock company founded by a number of shareholders representing a group of businessmen and traders in addition to those who are concerned at the level of the Iraqi and regional market having extensive experience in the activation and development of the national economy according to the modern scientific basics, through the adoption of advanced technological knowledge Used in Arab and international banks. Currently, North Bank is the largest private bank in Iraq by assets.听

Establishment The bank got establishment license issued by the department of Companies Registrar under its letter numbered (meem.sheem) / 9713 on 7/10/2003 granted the license of banking practice from the Central Bank of Iraq under the letter No. 9 3 341 on 9 3 2004 beginning its operations to provide banking services to customers on 1/4/2004 with a capital of (2.5) two and half billion Iraqi dinars.

The north bank for finance and investment enabled, since its inception in 2004, to achieve important accomplishments in various fields, most notably was to strengthen its financial position and to increase its interests in addition to widening its geographical spread with the diversity of its activity lines, which was included providing more banking services to its customers. The bank was also keen to develop continuously sources of its income, taking into account, maintaining the strategy of credit risk management applying the international standards.

All those has been achieved despite the exceptional circumstances experienced by the Iraqi economy at the present time.

It has been observed that the participants, in the meeting of General Authority of the north bank held in June 2012 to review the results of the bank’s activities for the year 2011, considered the important indicators created by the recent financial data of the bank as a qualitative evolution in the course of the bank having a positive impact for the shareholders in the bank, we can say that the north bank plays an active role in the Iraqi banking field for what now enjoys an influential position.

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Chairman’s Message

The board directors chairman of the north bank for finance and investment,Nozad Dawood Fattah Al-Jaff,听 believes 听the bank’s performance, especially during the last two years, 听was听 characterized by the development, which includes all branches of its activity, 听and was also compatible with the strategic goals organized by the bank 听on medium-and long-term,

pointing out that the key indicators of the bank’s activities听explain clearly the advanced position , at which the bank occupies it now compared with all Iraqi private banks in terms of the size of the financial position which is more than 1,750 trillion dinars for the听 bank,

or profits got by shareholders annually resulting from cash and promissory development activity , facilities and the provision of banking services at the highest levels in terms of development and used accounting systems , which 听is based on the upgrading of advanced banks forming a fixed听 target in the management of the bank, and giving听 evidence of efforts听 done by the executive staffs to achieve objectives.

According to the chairman’ concept, the north bank was keen to explore the prospects for the future 听by playing a vital role in the development of the national economy and by contributing听 in听 the financing of the business and investment sectors and other projects related to infrastructure,

stressing that the bank ,despite its听 recent presence in the banking arena, It听 was putting in its听 goals formulating a new role to contribute听 in the development process, and attracting听 the financial cadres and applying the non-traditional policies which help to overcome the difficulties, 听It听 is something which helped the bank to be ranked first, in terms of results and data in the Iraqi banking sector.

This makes it significant institutional strength in the field of modern banking. Al Jaff says that 听the important indicators for the course of the bank were coincided with a decision taken听 earlier in the year 2012, It was to increase the bank’s capital from 175 to 210 billion dinars, after capitalization of profits amounting to 35 billion dinars achieved in the year 2011听Preparing听 to reach the desired end听 in capital which is听 250 billion dinars in 30/06/2013.

With capitalizing the profits hoped to be听 achieved by the bank later. But Al Jaff 听finds that increasing the bank’s capital may not be decisive in the development of the sector like the听 extent that the transparency and credibility of a central hub in the banking activity, especially the sector is next to听 a period of economic recovery, and an increase in the size听 of its activity which will be accompanied by high state budgets as a result of increasing oil resources.

Al Jaff hits in his speech to the challenges that pushed the bank of the north to put efforts for the rehabilitation and development of its working methods听through the optimal use of modern technology, the adoption of control methods and the financial disclosure and accounting for activity confirming听 for听 the proper application of these mechanisms and assuring a听 sound and stable management听at the same time, in addition to the need for legislation and new laws to develop sector.

Strategy

Plans:
We opened our Sulymania, Arbil, Duhouk & Hartheya (Baghdad) & Al Ranadu Branch, Badhdad International Airport, Karabalaa, Karkuk, Basrah, Najaf & Mosul, Jamilah (Badhdad), Al-Dora (Baghdad), Koot , Nasiraya and Misan.

Hilla, Sallahadeen, Nay Al Jameaa (Baghdad) in our agenda of 2013, we are planning to open other branches in Sallah Aladin, Hilla.

The chairman of the directors board of the North Bank for Finance and Investment, Nozad Dawood Fattah Al-Jaff, emphasized 听that the bank has plans and ongoing measures in providing its banking services 听for the infrastructure projects and 听in the sectors of housing, electricity and building of schools as well as the small and medium-sized enterprises.

The contribution of the bank in providing banking service to Al Rusafa Water Project in Baghdad reflects the financial strength and durability of the bank, where the cost of the project amounted to more than 1.131 trillion Iraqi dinars 听(nearly one billion dollars),

the investment community considered the project as one of 听the huge projects in the middle east, taking into account its services given to the residents of the capital Baghdad for the next four decades.

听It is also pointed out that there are other strategic projects which the north bank funds them and opens the necessary credit for them, unlike what some people think and feel that the private banks play a specific role in the implementation of development projects.

The amount of projects that are being implemented by the support of north bank more than one billion dollars.

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North Bank’s Services and Products
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Banking Services听

North Bank for Finance and Investment presents Banking Services in a high level in terms of development and Accounting Systems.

Offered Banking Services听

1.听听听听听听Opening of accounts in Iraqi and US Dollar.

2.听听听听听听Accepting deposits (Saving accounts and fixed deposits) Iraqi and US Dollars.

3.听听听听听听Credit granting cash of all kinds (loans and banking facilities) in Iraqi and US Dollar.

4.听听听听听听Issuing of internal and external guarantee letters of Iraqi and US Dollar.

5.听听听听听听Opening documentary credits from foreign imports.

6.听听听听听听Issuing bills and instruments ratified and accepted internal transfers of all kinds.

7.听听听听听听Acceptance of foreign remittance of all kinds.

8.听听听听听听Financing small and medium-sized enterprises.

9.听听听听听听Buying and selling foreign Currency.

10.听听听听ATM.

11.听听听听Q-Card Services.

12.听听听听Visa Card and Basic Card.

13.听听听听听Internet Banking (Very Soon).

14.听听听听Investments.

Interest rates on Savings accounts and Fixed Deposits in Iraqi Dinars听

路听听听听听听听听7% Savings.听

路听听听听听听听听7% Fixed deposits for 3 months.听

路听听听听听听听听7.5% Fixed deposits for 6 months.听

路听听听听听听听听8% Fixed deposits for one year.听

路听听听听听听听听15% Over Draft.听

路听听听听听听听听13% Loans.听

Interest rates on Saving accounts and Fixed deposits in US Dollar听

路听听听听听听听听7% Savings.听

路听听听听听听听听7% Fixed deposits for 3 months.

路听听听听听听听听7.5% Fixed deposits for 6 months.听

路听听听听听听听听8% Fixed deposits for one year.听

路听听听听听听听听15% Over Draft.听

路听听听听听听听听13% Loans