2024-03-01T10:49:33+00:00
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/ The “Iraq Al-Mustaqbal” Basis for Financial Research and Consultations stated on Friday that there are 4 banks within the personal sector which have acquired greater than 50% of the scale of the Iraqi banking sector.
In line with a report issued by the establishment, the 4 banks are: Worldwide Improvement Financial institution, Nationwide Financial institution of Iraq, Financial institution of Baghdad, and South Islamic Financial institution, adopted by the next banks: Iraqi Islamic Financial institution, Funding Financial institution, Regional Business Financial institution, Mansour Financial institution, and Cihan Financial institution.
The report indicated that the above banks achieved progress through the yr 2023, with the worth of their property for one yr reaching practically 17 trillion Iraqi dinars, after it was round 11.5 trillion Iraqi dinars in 2022.
The establishment defined that this enhance got here on account of the rise in deposits in these banks and the rise in reliance on the banking sector, particularly within the area of international transactions.
The report added that it’s anticipated that the scale of the property of those banks will enhance through the 5 years to achieve greater than 40 trillion Iraqi dinars, with a rise in reliance on the personal banking sector on the expense of the general public banking sector.
The establishment revealed in its report a chart of the property of the main personal Iraqi banks over 5 years, as hooked up under: