RT Bank

What RT Bank does

RT Bank (legal name: Region Trade Bank) is an Iraqi commercial bank headquartered in Erbil, founded in 2001 and listed on the Iraq Stock Exchange under license from the Central Bank of Iraq. The bank serves three primary customer segments: individual retail customers (deposit accounts, debit/credit cards, personal and auto loans), SMEs and corporations (business accounts, trade finance, payroll services, POS solutions), and government employees via its 'My Account' digital salary disbursement platform — a partnership with the Kurdistan Regional Government (KRG) covering over 1 million public sector workers. The bank operates 9 physical branches and 230+ ATMs across 7 Iraqi cities (Baghdad, Basra, Duhok, Erbil, Kirkuk, Sulaymaniyah, Zakho), supplemented by mobile and online banking channels.

Its product suite spans multi-currency current and savings accounts (IQD, USD, EUR), term deposits yielding 6-6.5% annually, auto loans at 9% interest up to 50M IQD, World Mastercard and Titanium Mastercard credit cards, salary accounts with fee-free ATM access, and specialized financing including solar loans and Central Bank Initiative Loans. The technology infrastructure relies on SWIFT for international transfers, RTGS for domestic settlement, Western Union integration for remittances to 200+ countries, and a TLS/SSL-encrypted mobile and online banking platform with biometric authentication support.

RT Bank earns revenue primarily through net interest margin on loans and deposits (auto loans at 9%, term deposit costs at 6-6.5%), transaction and account fees (debit card fees, foreign exchange spreads of 2.75%, salary domiciliation fees of $1.5/IQD 2,000 per salary), trade finance commissions on letters of credit and guarantees, and foreign exchange margins. Distribution is direct via branch and ATM network, business banking relationship managers, and self-serve digital channels, with 24/7 phone and email customer service. The bank holds ISO 9001:2015 certification (RoyalCert, 2022), a CAMEL rating of 2A (2021), and a Fitch credit rating, and is a member of the Iraqi Deposit Insurance scheme.

Name

RT Bank

Legal name

Region Trade Bank

Website

https://rtb.iq

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

RT Bank (Region Trade Bank) is an Iraqi commercial bank founded in 2001, headquartered in Erbil and listed on the Iraq Stock Exchange. It provides retail, SME, and corporate banking — including deposits, loans, cards, trade finance, and payroll — serving over 1 million KRG government employees via its 'My Account' platform across 9 branches and 230+ ATMs.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Cross-Border A2A & Bank Transfer Networks (FSAMAIAF)

Keywords

• Retail banking services
• Commercial banking products
• Trade finance solutions
• Salary disbursement services
• Multi-currency banking

Headquarters

HQ city

Erbil

HQ country

Iraq

HQ region

Middle East

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Interest Income: Revenue generated from interest on loans including personal loans, auto loans, and business financing. Interest rates include 9% annual for auto loans and competitive rates for personal loans.
2. Fee Income: Various banking fees including account management fees, transaction fees, card issuance and annual fees, ATM withdrawal fees from other banks, and international transfer commissions. Salary domiciliation fees of $1.5 / IQD 2,000 per salary.
3. Trade Finance Services: Revenue from letters of credit, letters of guarantee, and other trade finance services including documentary credits and collections for international and domestic trade.
4. Foreign Exchange: Revenue from foreign currency exchange transactions and foreign exchange margins on international transfers and card transactions. Foreign exchange fee of 2.75% for card transactions.
5. Term Deposit Interest Spreads: Earns spread between interest paid to depositors (6-6.5% annual) and interest earned on loans and investments. Deposits protected under Iraqi Deposit Insurance regulations.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

RT Bank is an Iraqi commercial bank providing retail and corporate banking products including multi-currency deposit accounts (current, savings, salary, term deposits), personal and business loans (auto, personal, solar, overdraft), debit and credit cards (Mastercard), trade finance (letters of credit and guarantees), payroll services, and digital banking via mobile app and online portal. The bank also operates the 'My Account' digital salary disbursement platform in partnership with the Kurdistan Regional Government serving over 1 million government employees.

Product overview

RT Bank (Regional Trade Bank) is an Iraqi financial institution established in 2001, offering a comprehensive banking platform with a portfolio of personal, business, and institutional products. The platform architecture consists of core banking services (accounts, cards, loans) supported by digital channels (mobile app, online banking portal) and specialized offerings including the 'My Account' salary digitization platform for KRG government employees, business payroll services, trade finance solutions (letters of credit, letters of guarantee), and merchant services (POS terminals). Products include World Mastercard and Titanium Mastercard credit cards, Standard Debit Cards, multi-currency current and savings accounts, term deposits (6-12 months at 6-6.5% returns), personal/salary/auto/solar loans, business accounts, and automated payroll services. The bank operates across Iraq with 239 ATM locations and branches in major cities.

Differentiator

Problem solved

Functional benefit

Products and services

• World Mastercard Credit Card Premium credit card with global acceptance, buy-now-pay-later installment plans starting from 10%, VIP airport lounge access, and luxury lifestyle benefits for high-spending retail and business customers.
• Titanium Mastercard Credit Card Mastercard credit card with flexible repayment plans and spending control with installment options, exclusively available at RTB for retail customers seeking true credit card functionality in Iraq.
• Standard Debit Card Mastercard debit card providing global acceptance, 3D Secure online shopping protection, VIP airport lounge access, and seamless secure financial transactions for retail customers.
• Personal Current Account Multi-currency everyday banking account available in IQD, USD, and EUR with MasterCard or UnionPay for worldwide use, checkbook access, and 24/7 online banking management for retail customers.
• Personal Savings Account Interest-bearing savings account available in IQD, USD, or EUR with competitive interest rates, monthly or quarterly interest crediting, and 24/7 global access to savings.
• Salary Account Direct deposit salary account available in IQD with MasterCard for global ATM access, free withdrawals at RTB ATMs, and 24/7 mobile and online banking for public and private sector employees.
• Personal Term Deposit Fixed-term savings product in Iraqi Dinar with competitive returns of 6% for 6 months or 6.5% for 12 months, minimum deposit of 1,000,000 IQD, monthly profit payouts, and auto-renewal option.
• Auto Loan Vehicle financing product with 25% down payment and 75% bank financing up to 50 million IQD, at 9% annual interest rate, with 2.4% annual insurance and 1-4 year tenor for retail customers.
• Personal Loan Flexible personal financing solutions for individuals to meet various financial needs including consumption, education, or other personal requirements.
• Solar Loan Renewable energy financing product supporting investment in solar energy projects for residential customers seeking sustainable power solutions.
• Business Current Account Multi-currency commercial account in IQD, USD, or EUR with bank transfers, debit cards, checkbooks, and 24/7 online banking access for SMEs, corporations, NGOs, and merchants.
• Business Term Deposit Business savings product with attractive returns on 6, 12, and 24-month deposits available in IQD, USD, EUR with auto-renewal option for corporate treasuries and SMEs.
• Business Payroll Services Automated bulk salary transfer service for companies, NGOs, and institutions enabling electronic upload and completely automated execution of payroll disbursements.
• Letters of Credit Import and export letters of credit facilitating secure international trade transactions, protecting both buyers and sellers in cross-border commercial deals.
• Letters of Guarantee Domestic and international guarantee services including bid bonds, performance guarantees, and advance payment guarantees supporting business contracts and tenders.
• Overdraft Facilities Flexible overdraft facilities for businesses covering day-to-day expenses with interest charged only on utilized amounts for working capital management.
• Central Bank Initiative Loans Loan facility supporting industry, agriculture, health, tourism, and renewable energy projects with loans up to 50 million IQD under Central Bank of Iraq initiatives.
• Point of Sale (POS) Solutions Free POS devices for merchants without monthly fees enabling secure multi-currency card transactions and payment acceptance for retail and service businesses.
• My Account Salary Disbursement Project Digital salary disbursement platform in partnership with the Kurdistan Regional Government enabling electronic salary deposits, financial inclusion, and exclusive loan offers for over one million KRG government employees.
• Mobile Banking Application Mobile application providing 24/7 banking access with secure authentication, biometric support, account management, transfers, card activation, and transaction capabilities over TLS/SSL encrypted channels.
• Online Banking Portal Internet banking platform providing account management, fund transfers, bill payments, and 24/7 access to retail and business banking services.
• Western Union Money Transfer Western Union international money transfer service enabling send and receive operations to over 200 countries, starting from $2, completed in 5-10 minutes with online tracking available at RTB branches.

Quantifiable outcome

• Digital salary disbursement eliminating cash handling for 1M+ government employees
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

Feature4 records

Partnerships

Five partnerships are on record, tiered minor and core.

• RoyalCert (Germany)minorOthers · 2 February 2022RoyalCert, a German certification body, awarded RT Bank the ISO 9001:2015 Quality Management System certification after assessing compliance with international quality management standards in banking operations.
• Kurdistan Regional Government (KRG)coreStrategic or Co-development PartnerRT Bank serves as the chosen banking partner for the KRG's transformative 'My Account' digital salary disbursement project, enabling electronic salary transfers for over 1 million government employees. This partnership revolutionizes salary payment processes, promotes financial inclusion, and strengthens the region's digital economy by eliminating cash handling and enabling digital banking access.
• Western UnioncoreTechnology or IntegrationWestern Union international money transfer services are available at RT Bank branches, enabling customers to send and receive money to over 200 countries starting from $2, with transfers completed in 5-10 minutes and online tracking available.
• Fitch RatingsminorOthersFitch Ratings provides international credit rating assessments for RT Bank, evaluating the bank's creditworthiness, financial stability, and capacity to meet financial commitments.
• Iraqi Deposit Insurance CompanycoreOthersAll RT Bank deposits are insured under Iraqi Deposit Insurance regulations, protecting customer deposits and providing deposit compensation in case of bank failure. The company calculates deposit compensation ratios.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bank of Baghdad: Iraqi private commercial bank offering retail and corporate banking, deposits, loans, trade finance, and digital channels across Iraq. Directly comparable in product mix, customer segments, and regulatory standing to RT Bank.
• National Bank of Iraq: One of Iraq's largest private commercial banks providing retail deposits, lending, trade finance, and digital banking with multi-branch presence. Comparable scale and product breadth to RT Bank within the Iraqi market.
• Commercial Bank of Iraq: Iraqi commercial bank offering retail and corporate banking, loans, and trade services. Operates in the same regulatory framework under the Central Bank of Iraq and competes for similar SME and retail customers.
• Kurdistan International Bank: Kurdistan Region-based commercial bank providing retail, corporate, and trade finance products. Geographically and demographically closest peer given overlapping footprint in Erbil and other KRG cities.
• Cihan Bank for Islamic Banking and Investment: Iraqi bank operating in the Kurdistan Region offering Sharia-compliant retail, corporate, and trade finance products. Comparable branch-and-digital distribution model in the same Iraqi geography.
• Ashur International Bank: Iraqi private bank providing commercial banking, lending, and trade services with national presence. Competes with RT Bank for corporate clients, deposits, and trade finance mandates.
• Trade Bank of Iraq: State-linked Iraqi bank specializing in trade finance, letters of credit, and corporate banking for oil and reconstruction sectors. Comparable trade finance capabilities and government-anchored deposit base.
• Iraqi Islamic Bank: One of Iraq's oldest private banks offering Islamic retail and corporate products across multiple cities. Comparable customer segments, deposit-taking model, and operating geography to RT Bank.

Regional players

• MIDAFRICA Bank: Regional commercial bank offering retail, SME, and trade finance in the MENA region with multi-currency capabilities. Useful comparable for cross-border and remittance product strategies relevant to Iraq.
• Bank of Bahrain and Kuwait (BBK): Gulf-based commercial bank with retail, corporate, and trade finance offerings serving MENA markets. Comparable on international transfer capabilities, multi-currency accounts, and branch-and-digital distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/regiontradebank
• Facebookfacebook.com/RegionTradeBank
• LinkedInlinkedin.com/company/regiontradebank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RT Bank