Four banks account for more than 50% of the size of the banking sector in Iraq, 1 MARCH

Four banks account for more than 50% of the size of the banking sector in Iraq

Shafaq News / Iraq Al-Future for Economic Studies and Consulting said on Friday that there are four banks in the private sector that accounted for more than 50% of the size of the Iraqi banking sector.

According to a report issued by the Foundation, the four banks are: the International Development Bank, the National Bank of Iraq, the Bank of Baghdad, and the Islamic Bank of South, followed by banks: the Iraqi Islamic Bank, the Investment Bank, the Commercial Region Bank, Al-Mansour Bank, Cihan Bank

The report pointed out that the above banks achieved growth during 2023, bringing the value of their assets to about 17 trillion Iraqi dinars, after they were in 2022 of 11.5 trillion Iraqi dinars.

The institution explained that this increase came as a result of the increase in deposits with these banks and the increase in dependence on the banking sector, especially in the field of foreign transactions.

The report continued, it is expected that the volume of assets for these banks during the five years to reach more than 40 trillion Iraqi dinars with the increase in dependence on the private banking sector at the expense of the public banking sector.

In its report, the Foundation published a graph of the assets of the leading Iraqi private banks within 5 years as attached below:

https://www.shafaq.com/ar/اقتصـاد/ربعة-بنوك-تستحوذ-على-كثر-من-50-من-حجم-القطاع-المصرفي-بالعراق