ANALYSIS OF IRAQ NEWS: In the numbers.. The rise in deposits of Iraqi commercial banks, 15 AUGUST

 An economist revealed the rise in the deposits of Iraqi commercial banks to reach the barrier of 130 trillion dinars.

Manar Al-Obeidi said in a statement that received a copy of it by {Euphrat News} that “the deposits with Iraqi commercial banks increased in June 2024 to reach 129.88 trillion dinars, higher with an annual growth rate of 3.74% and a monthly growth rate of 1.43%.”
He added, “Current deposits, which represent by about 80% of deposits, increased by an annual growth rate of 6.68% and a monthly growth rate of 1.67% to reach 104.55 trillion Iraqi dinars, while savings deposits, which represent 12.74% of the monthly growth rate increased by 0.9%, but they decreased on an annual basis and a decrease of 4% to reach a total value of 16.2 trillion dinars.”
Al-Obeidi continued, “As for fixed deposits, which represent 7% of the total deposits, decreased on a monthly basis by 0.29% and on a year-year basis of 11.84% to reach 9.13 trillion dinars.”
He pointed out, “As for the sources of deposits, the private sector deposits occupied the highest percentage by 43% of total deposits with a total value of 55.89 trillion Iraqi dinars and increased on an annual and monthly basis by 2.38% and 1.54%.”
He pointed out that “central government deposits, which represent 34.3% of the total value of deposits, increased by 5.49% on a monthly basis and 10.85% on an annual basis and a total value of 44.63 trillion Iraqi dinars.”
He explained, “The deposits of public institutions, which represent 22.6% of the total value of deposits, recorded a decrease in the monthly growth rate of 4.33% and a decrease in the annual growth rate of 3.38% and a total value of 29.36 trillion dinars.”
 

https://alforatnews.iq/news/بالأرقام-ارتفاع-ودائع-المصارف-التجارية-العراقية

ANALYSIS 

According to recent data, deposits in Iraqi commercial banks have seen a notable increase, reaching approximately 130 trillion dinars by June 2024. This represents a 3.74% annual growth rate and a 1.43% monthly growth rate. Here's a detailed breakdown:

1. Current Deposits:

   • Value: 104.55 trillion dinars
   • Share: About 80% of total deposits
   • Annual Growth: 6.68%
   • Monthly Growth: 1.67%

2. Savings Deposits:

   • Value: 16.2 trillion dinars
   • Share: 12.74% of total deposits
   • Annual Growth: Decreased by 4%
   • Monthly Growth: Increased by 0.9%

3. Fixed Deposits:

   • Value: 9.13 trillion dinars
   • Share: 7% of total deposits
   • Annual Growth : Decreased by 11.84%
   • Monthly Growth: Decreased by 0.29%

4. Sources of Deposits:

   • Private Sector:

     • Value: 55.89 trillion dinars
     • Share: 43% of total deposits
     • Annual Growth: 2.38%
     • Monthly Growth: 1.54%

   • Central Government:

     • Value: 44.63 trillion dinars
     • Share: 34.3% of total deposits
     • Annual Growth: 10.85%
     • Monthly Growth: 5.49%

   • Public Institutions:

     • Value: 29.36 trillion dinars
     • Share: 22.6% of total deposits
     • Annual Growth: Decreased by 3.38%
     • Monthly Growth: Decreased by 4.33%

These figures indicate a robust growth in the overall deposit base, with varying trends across different deposit types and sources.