Baghdad – IA
Today, Wednesday, the Central Bank of Iraq revealed a decrease in the ratio of non-performing loans to total credit.
The Central Bank stated in a statement received by the (INA), that “the ratio of non-performing loans to total cash credit witnessed a decline, reaching (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 It recorded (8.8%), but in 2020 it reached (8.9%).”
He added, “The ratio of non-performing loans to total deposits for the year 2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%), while it was (5.2%) in Year 2020.
The Central Bank affirmed, “This percentage is an indicator of the efficiency of the Iraqi banking sector in its endeavor to develop its products and adopt new methods and advanced systems for granting credit and reducing the risk of default in accordance with global contexts.”