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Bank of Baghdad

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Overview

Bank of Baghdad is Iraqi commercial bank + ISX: BBOB + Burgan Bank Kuwaiti parent ~52% controlling via KIPCO Tower Group + one of largest Iraqi private commercial banks 1, Iraq report.

1992 — Bank of Baghdad founded with an initial paid-in capital of 100 million Iraqi dinars 3.

2005 — Bank of Baghdad ISX listing under ticker BBOB.

2005 — Burgan Bank Kuwaiti parent acquires Bank of Baghdad majority controlling stake, integrating Bank of Baghdad into the KIPCO regional banking footprint 2.

2009 — Digital-services debut: internet banking and SMS notifications go live, a notable early-mover step inside the Iraqi commercial-bank universe 3.

2011 — One of the largest branch and ATM networks in Iraq established, per the bank's published profile 3.

2018 — Bank of Baghdad Mobile Banking app launch — iOS id1452919011, Android iq.bankofbaghdad.mobile, both still active on the public app stores.

2023 + 2024 — "Best Commercial Bank in Iraq" awarded by International Finance for two consecutive years, plus "Best Bank Iraq 2023" from CFI.co and the International Union of Arab Bankers' 2024 commercial-banking award 3, 4.

Capital growth to date: from IQD 100 M (1992) to IQD 400 billion today — a 4,000× nominal growth that tracks the broader trajectory of Iraq's post-2003 banking-sector reconstruction 3.

Ownership & operator

Operating entity: Bank of Baghdad PSC (ISX: BBOB; Iraqi commercial bank).

Major shareholders: Burgan Bank K.S.C.P. (KSE: BURG; Kuwaiti commercial bank; KIPCO Tower Group majority controlling) ~52% controlling + Iraqi retail + institutional + foreign investors.

Regulators: CBI (Central Bank of Iraq).

Technical integration

Bank of Baghdad Mobile Banking app (iOS + Android) + bobiq.com online + Bank of Baghdad branch network across Iraq + Bank of Baghdad Visa + Mastercard + Qi Card; Qi Card (Iraqi national payment network) + Iraq IBAN.

Implementations & partners

Burgan Bank Kuwaiti parent: Burgan Bank (Burgan Bank K.S.C.P.; KSE: BURG; Kuwaiti commercial bank; KIPCO Tower Group majority controlling + Bank of Baghdad Iraq parent + Tunis International Bank + Algeria Gulf Bank + Burgan Bank Turkey).

Major Iraqi banking + payments competitors: Trade Bank of Iraq (TBI) (Trade Bank of Iraq TBI; Iraqi state-owned commercial bank since 2003) + Rasheed Bank (Rasheed Bank Iraqi state-owned commercial bank) + Rafidain Bank (Rafidain Bank Iraqi state-owned commercial bank) + National Bank of Iraq (National Bank of Iraq Iraqi commercial bank; Capital Bank of Jordan parent post-Sep 2021 acquisition) + Qi Card Iraq (Qi Card Iraqi national payment network + Smart Card) + Zain Cash Iraq (ZainCash Iraqi mobile money by Zain Iraq).

Global correspondent network 3: Citibank, JPMorgan Chase, DBS Bank, UniCredit Bank — large international correspondent relationships that are unusual for an Iraqi commercial bank and follow directly from Burgan/KIPCO group integration.

KIPCO regional banking sisters: Burgan Bank Kuwait (KSE: BURG, parent), Algeria Gulf Bank, Tunis International Bank, Burgan Bank Türkiye, plus presence relationships in Kuwait, Bahrain, Jordan, Syria, Algeria, Tunisia 2.

Regulator: CBI.

Fun facts

Capital scaled 4,000× in 30 years. Founding capital was IQD 100 million in 1992; today it stands at IQD 400 billion, a nominal 4,000× expansion that traces the post-2003 reconstruction of Iraq's banking sector 3.

A Citibank + JPMorgan + DBS + UniCredit correspondent network on an Iraqi balance sheet. Bank of Baghdad's correspondent relationships read like a tier-1 global-bank list — a footprint normally associated with much larger institutions, made possible by the bank's integration into the Kuwaiti KIPCO/Burgan group rather than its standalone Iraqi standing 3.

Two-time "Best Commercial Bank in Iraq". International Finance honoured Bank of Baghdad as Iraq's Best Commercial Bank in 2023 and 2024 — consecutive years — alongside CFI.co's 2023 "Best Bank Iraq" award and the International Union of Arab Bankers' 2024 award 3, 4.

Plans for +15 branches and 200+ ATMs. The bank's published 2026 expansion roadmap targets 15 new branches and a network grown to over 200 ATMs, with deployment focused on high-traffic shopping centres and government offices 3.

Status

Active. Iraqi commercial bank, ISX-listed under ticker BBOB, with Burgan Bank K.S.C.P. (KIPCO group) holding ~52% controlling stake; 36–38 branches in Iraq with 15 additional branches planned and 200+ ATM expansion under way 3. Recognised by International Finance as Best Commercial Bank in Iraq in 2023 and 2024, the International Union of Arab Bankers' 2024 award, and CFI.co's 2023 award 3, 4. Digital surface: iOS + Android mobile banking app, internet-banking portal at ibs.bankofbaghdad.com, and the bank's own corporate site 1, 5.

Sources

Source

Biography extracted from bank-of-baghdad.md. See matrix.md for standards-support matrix if present.

source · content/wallets/bank-of-baghdad/index.md