The “Future Iraq” Foundation for Economic Affairs reported that over the past five years, the assets of eight private Iraqi banks have grown to over 13 trillion dinars.
The following 8 banks are located in Iraq: 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, in a report published today, stated that the assets of the banks increased by 108% from 2019 to 2023. This brought the total value of their assets during 2023 to around 13.7 trillion Iraqi dinars, compared to approximately 6.6 trillion Iraqi dinars in 2019.
According to the report, the rise in assets is attributed to a 131% increase in deposits with these banks. This brought the total value of deposits to (8.8) trillion Iraqi dinars, higher than the previous year’s (3.8) trillion Iraqi dinars.
The report states that the revenues of these banks have increased by 285% compared to the year 2019. They are expected to reach 908 billion Iraqi dinars by the end of 2023, which is significantly higher than the 235 billion Iraqi dinars earned in 2019.
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