Iraq’s Al-Mansour Bank revenues increase
Photo: Al-Mansour Bank
Baghdad (IraqiNews.com) – In the second quarter of 2022, Al-Mansour Bank’s (ISX Code: BMNS) net profit after tax fell by 8% quarter over quarter to $1.7 million, according to a new research study by Rabee Securities (RS). In the second quarter compared to the first quarter, the bank’s overall revenues rose by 4%, reaching $4.0 million.
As of September 28th, the share price of Al-Mansour Bank had increased by 14% over the previous month, outperforming the RSISX index by 7%. Based on corrected closing prices determined by RS, the bank still has a 212% upside potential compared to its top level on February 13th, 2014.
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 directly and through 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.