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Trade Bank Iraq opens first international branch in Saudi Arabia

Published: Updated:

State-owned Trade Bank Iraq has opened a branch in Saudi Arabia, its first international outlet, the bank said in a statement on Thursday.

“The wholly government-owned bank, which holds an 80 percent market share in Iraq, has opened its first international branch office in the Al-’Olayya District of Riyadh and will start its operations soon,” the statement said.

This development comes amid a vist by Iraqi Prime Minister Adel Abdul Mahdi to Saudi Arabia.

On Wednesday, Saudi Arabia’s Crown Prince Mohammed bin Salman met with Abdul Mahdi.