Deposit growth declines and cash credit rises in Iraq

The Central Bank of Iraq reported on Wednesday a decline in bank deposit growth, while credit growth increased during July.

A bank statistic reviewed by Shafaq News Agency showed that total deposits at banks operating in Iraq decreased by 1% in July, reaching 116.265 trillion dinars, compared to their value in June, which amounted to 117.439 trillion dinars.

The bank added that central government deposits amounted to 36.22 trillion dinars, while public institution deposits amounted to 25.442 trillion dinars, and private sector deposits amounted to 54.595 trillion dinars.

The statistics indicated that credit growth increased by 2% in July, reaching 73.027 trillion dinars, compared to June, when credit growth reached 71.483 trillion dinars.

The bank explained that credit provided to the central government amounted to 25.77 trillion dinars, while credit provided to public institutions amounted to 2.43 trillion dinars, and credit provided to the private sector amounted to 44.827 trillion dinars.

Shafaq.com