National Bank of Iraq − Ratings Affirmed with a Stable Outlook

Ref: IQ001 2 3 CRA00-01 1 4 March 20 2 4

National Bank of Iraq − Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong- Term F oreign C urrency R ating (LT FCR) and S hort- Term Foreign C urrency R ating (ST FCR) of National Bank of Iraq ( NBI ) at ‘ B ’ and ‘ B ’ , respectively. At the same time , CI Ratings has affirmed NBI ’s Bank Standalone Rating (BSR) of ‘ b – ’ , Core Financial Strength (CFS) rating of ‘ bb ’, and Extraordinary Support Level (ESL) of Moderate. The Outlook for both the LT FCR and BSR is Stable .

CI has also affirmed the Bank’s Long- and Short-Term Ratings on the Iraq National Scale of ‘iqA’ and ‘iqA1’, respectively, with a Stable Outlook. These are supported and constrained by the same factors as the CFS as outlined below.

The Bank’s LT FCR is set…