Iraq's Central Bank reports 7.3% increase in private banks' capital
Shafaq News/The Central Bank of Iraq (CBI) announced, on Monday, that private banks' totalcapital rose by 7.3% during the first quarter of 2024, reaching 19.2 trillionIraqi dinars, compared to 19.7 trillion dinars in the same period last year.
According tothe bank’s report, “the capital of private banks operating in Iraq saw a 6%increase, while state banks experienced a more significant rise of 11.1%.”
The CentralBank pointed out that private banks contributed 73.2% of the total bankingcapital, while public banks accounted for 26.2%.
The reportalso showed a 1.2% increase in total deposits for the first quarter, reaching123.7 trillion dinars, up from 122.2 trillion dinars in the same period lastyear. “Current deposits rose by 3.1%, attributed to increased public sectorwages and employee salaries, while savings deposits fell by 3%, and fixeddeposits declined by 10%.”
