Gulf Commercial Bank opens branch in Thi-Qar

THI-QAR / IraqiNews.com: The Gulf Commercial Bank has opened a new branch in Thi-Qar province to expand its investment banking activities in Iraq, the chairman of the bank’s board of directors said on Wednesday. “The bank’s branches in southern Iraqi provinces will help boost the national economy,” Abu Taleb al-Hashemi told Iraqi News. The inauguration of the branch has been held under the auspices of Thi-Qar’s governor and in the presence of provincial council members and the chairmen of the local investment commission and the chamber of commerce. Established in 1999, the bank has managed to increase its capital from 600 million Iraqi dinars to 50 billion. It has four branches in Baghdad and 13 in other provinces. Nassiriya, the capital city of Thi-Qar, lies 380 km south of Baghdad. SS (P)/SR 1