National Bank of Iraq acquires Al-Ittihad International Insurance Company
National Bank of Iraq acquires Al-Ittihad International Insurance Company
2025-03-09
Shafaq News/ The National Bank of Iraq announced, on Sunday, its acquisition of the International Union Insurance Company, after obtaining all necessary approvals from the Central Bank.
The bank said in a statement received by Shafak News Agency that this acquisition comes within the framework of the National Bank of Iraq’s strategy aimed at expanding the scope of its financial services.
The company is expected to start operating under the umbrella of the National Bank of Iraq during the second quarter of this year.
Commenting on this acquisition, the Managing Director of the National Bank of Iraq, Ayman Abu Dahim, said in a statement received by Shafaq News Agency, “The acquisition of the National Bank of Iraq of the International Union Insurance Company by the National Bank of Iraq represents a pivotal step in our growth and expansion strategy. Through this step, we seek to strengthen our financial system and provide integrated insurance services in line with the diverse needs of our customers.”
“This acquisition gives us the ability to provide comprehensive financial solutions that combine banking and insurance services under one roof, making it easier for our customers to access integrated financial products that support their aspirations and provide them with the required financial protection,” he added, noting that “this step will contribute to strengthening the position of the National Bank of Iraq in the market, and will open new horizons for the bank to expand and innovate in the banking and insurance sectors.”
Abu Dahim stressed that “the bank will continue to work to provide the highest levels of service and quality to its customers, which will consolidate its position as a leading financial institution in Iraq.”
The bank’s assets amount to about 5.2 trillion Iraqi dinars, and the number of its branches and ATMs reaches 33 branches and 300 ATMs, while its customer base exceeds 400 thousand customers.
shafaq.com
