Bank of Baghdad (BOB): Best Bank Iraq 2021

Bank of Baghdad

Bank of Baghdad (BOB) is Iraq’s largest private commercial bank, with 40 national branches and one in Beirut. The multinational, multi-regional institution has, over the past three decades, earned the trust of the people — and the lion’s share of business in Iraq. BOB is the only such bank in the country to have a 10-year clearing relationship with Citibank of New York. It ensures full compliance with regulatory and ethical standards through a comprehensive governance structure. This has raised the bank’s profile with international companies and the expat community. There is a BOB branch located in the US embassy and an ATM in the British embassy, and BOB is the preferred bank of EU and UN employees in Iraq. It has achieved year-on-year growth and the highest rating from the Central Bank of Iraq. BOB has the largest customer deposits in the country, and despite the pandemic, 2020 was a record year. The bank seeks to empower employees and clients, and this mentality of shared success further bolsters its credibility and popularity. It has invested in technology to enhance ease of transactions and grant customers peace-of-mind. There is a workforce of 800 professionals, and a strong service ethic is a selection criterion. BOB is listed on the Iraq Stock Exchange and is majority-owned by Burgan Bank in Kuwait, with investment fund shareholders in New York and London. The judging panel congratulates Bank of Baghdad, the 2021 winner of the Best Bank (Iraq) award.