The Central Bank of Iraq (CBI) reported a 7.3% growth in private banks’ capital during the first quarter of 2024, reaching 19.2 trillion Iraqi dinars, up from 19.7 trillion dinars in the same period last year.
According to the CBI’s report, private banks’ capital rose by 6%, while state-owned banks saw a notable increase of 11.1%. Private banks contributed 73.2% of the total banking capital, with public banks comprising the remaining 26.2%.
The report also highlighted a 1.2% increase in total deposits, reaching 123.7 trillion dinars, compared to 122.2 trillion dinars in the previous year’s first quarter.
“Current deposits grew by 3.1%, driven by rising public sector wages and employee salaries,” the report noted. However, savings deposits dropped by 3%, and fixed deposits decreased by 10%.
