The “Future Iraq” Foundation, concerned with economic affairs, reported on Friday that the assets of eight private Iraqi banks had increased to more than 13 trillion dinars over the past five years.
The list of banks includes Al-Mansour Bank, Commercial Region Bank, Assyria International Bank, Al-Janoub Islamic Bank, Iraqi Islamic Bank, Baghdad Bank, Development Bank, and National Bank of Iraq.
The institution’s report, published today, stated that the banks’ assets grew by 108% from 2019 to 2023, reaching a value of 13.7 trillion Iraqi dinars in 2023. This is a significant increase from approximately 6.6 trillion Iraqi dinars in total assets held by these banks in 2019.
According to the report, the growth in assets can be attributed to a surge in deposits made in these banks, resulting in a 131% increase. The total value of deposits made in these banks now stands at (8.8) trillion Iraqi dinars, which is a significant rise from the previous year’s amount of (3.8) trillion Iraqi dinars.
According to the report, the banks’ revenues increased by 285% when compared to the year 2019. They are expected to reach 908 billion Iraqi dinars by the end of 2023, which is a significant increase from 235 billion Iraqi dinars in the year 2019.