The Central Bank announces a decrease in non-performing loans

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The Central Bank announces a decrease in non-performing loans

The Central Bank of Iraq’s Department of Statistics and Research reported today, Wednesday, that the percentage of non-performing loans to total credit has decreased.

“The ratio of non-performing loans to total cash credit witnessed a decline, as its percentage reached (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 it recorded (8.8%),” the bank stated in a statement obtained by. 2020 saw a rise to 8.9%.

He said, “The ratio of non-performing loans to total deposits for the year 2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%), while it was (5.2%) in the year 2020” .

In order to grant credit and lower default risks in line with international contexts, the bank emphasized in its statement that “this percentage is an indicator of the efficiency of the Iraqi banking sector in its endeavor to develop its products and adopt new methods and advanced systems.”