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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, iq-cro].

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]] (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-iq]] (National Bank of Iraq Iraqi commercial bank; Capital Bank of Jordan parent post-Sep 2021 acquisition) + [[qi-card]] (Qi Card Iraqi national payment network + Smart Card) + [[zaincash]] (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 · docs/wallets/bank-of-baghdad/index.md