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Chairman Statement
Outstanding Performance And Advanced Results
The board directors chairman of the north bank for finance and investment, Nawzad Dawood Fataah Al Jaff , believes the bank's performance, especially during the last two years, was characterized by the development, which includes all branches of its activity, and was also compatible with the strategic goals organized by the bank on medium-and long-term, pointing out that the key indicators of the bank's activities explain clearly the advanced position , at which the bank occupies it now compared with all Iraqi private banks in terms of the size of the financial position which is more than 1,750 trillion dinars for the bank, or profits got by shareholders annually resulting from cash and promissory development activity , facilities and the provision of banking services at the highest levels in terms of development and used accounting systems , which is based on the upgrading of advanced banks forming a fixed target in the management of the bank, and giving evidence of efforts done by the executive staffs to achieve objectives.
According to the chairman' concept, the north bank was keen to explore the prospects for the future by playing a vital role in the development of the national economy and by contributing in the financing of the business and investment sectors and other projects related to infrastructure, stressing that the bank ,despite its recent presence in the banking arena, It was putting in its goals formulating a new role to contribute in the development process, and attracting the financial cadres and applying the non-traditional policies which help to overcome the difficulties, It is something which helped the bank to be ranked first, in terms of results and data in the Iraqi banking sector.
This makes it significant institutional strength in the field of modern banking.
Al Jaff says that the important indicators for the course of the bank were coincided with a decision taken earlier in the year 2012, It was to increase the bank's capital from 175 to 210 billion dinars, after capitalization of profits amounting to 35 billion dinars achieved in the year 2011 Preparing to reach the desired end in capital which is 250 billion dinars in 30/06/2013 With capitalizing the profits hoped to be achieved by the bank later. But Al Jaff finds that increasing the bank's capital may not be decisive in the development of the sector like the extent that the transparency and credibility of a central hub in the banking activity, especially the sector is next to a period of economic recovery, and an increase in the size of its activity which will be accompanied by high state budgets as a result of increasing oil resources.
Al Jaff hits in his speech to the challenges that pushed the bank of the north to put efforts for the rehabilitation and development of its working methods through the optimal use of modern technology, the adoption of control methods and the financial disclosure and accounting for activity confirming for the proper application of these mechanisms and assuring a sound and stable management at the same time, in addition to the need for legislation and new laws to develop sector.
