IPLB: Banking sector capital exceeds 15 trillion dinars
Shafaq News / Iraqi private banks league revealed (IPLB), on Sunday, that the capital of banks operating inside the country amounts for more than 15 trillion dinars.
The Executive Director of the league, Ali Tariq, said in a statement received by Shafaq News agency today, "the league provides all media and researchers with financial information about the banking sector that indicates its size and impact on Iraq during the year 2019", indicating that the data prepared by the Central Bank shows an increase in the banking sector's capital to more than 15 trillion dinars.
He noted that the banking sector has witnessed a great development during the past years, as it was able to increase the volume of loans and deposits, which will positively affect the Iraqi economy, especially after the central bank reduced interest on small and medium enterprises.
Tareq stressed that, "the capital of Iraqi banks amounted to more than 15.3 trillion dinars until 2019; divided into 3.3 trillion dinars consist the capital of government banks, while the capital of private banks amounted to 12 trillion dinars, "noting that, "deposits in the banking system amounted to 82.1 trillion dinars, of which 71.38 trillion dinars are in government banks; while in private banks, it amounted to 10.72 trillion dinars".
Tariq indicates that cash credit amounted to 42 trillion dinars divided into 34.2 trillion dinars provided by government banks and 7.8 trillion dinars provided by private banks.
He stressed that troubled debts amounted to 4.1 trillion dinars divided into 2.37 trillion dinars in governmental banks and 1.77 trillion in private banks. Tariq this to the failure of paying the debts; adding that the profits of banks during the past year amounted to 1090 billion dinars divided into 956 billion dinars for government banks and 134 billion dinars for private banks.