Nearly 130 trillion dinars.. Increase in deposits of Iraqi commercial banks

According to Manar Al-Obaidi, the director of the “Iraq Al-Mustaqima” Foundation for Economic Studies and Consultations, deposits at Iraqi commercial banks reached 129.88 trillion Iraqi dinars by June 2024. This value indicated an annual growth rate of 3.74 percent and 1.43 percent month on month.

Commenting on the issue in a Facebook post, Al-Obaidi explained that current deposits, accounting for about 80% of deposits, reached 104.55 trillion Iraqi dinars, up 6.68 percent on an annual basis and 1.67 percent on a monthly basis. On the other hand, savings deposits accounting for 12.74% of deposits fell 4% on an annual basis to 16.2 trillion Iraqi dinars versus a growth rate of about 0.9% on a monthly basis.

Fixed deposits, 7 percent of all deposits, on a month-on-month system dropped by 0.29 percent and on a year-on-year system decreased by 11.84 percent.