Al-Mansour Bank’s net profit rose 73% from the previous quarter
Photo: Al-Mansour Bank
Baghdad (IraqiNews.com) – In the third quarter of 2022, Al-Mansour Bank’s net profit after tax rose 73% from the previous quarter to reach $2.9 million, according to a new research study by Rabee Securities. Comparing the third quarter to the second, the bank’s overall revenues climbed by 40%, reaching $5.6 million.
According to Tugba Tan Karakaya, an analyst at Rabee Securities’ research division, Al-Mansour Bank’s share price increased 19% in the past month and outperformed the RSISX index by 21%. Using Rabee Securities updated closing price calculations, the bank still has 145% upside potential compared to its February 13th, 2014 top level.
Iraq’s capital city of Baghdad is home to the private joint stock business Al-Mansour Bank, which was founded in 2005. Through its correspondents including Qatar National Bank, the parent business that holds a 54.2% stake in Al-Mansour Bank, the bank is trying to improve and widen its banking relationships.