Deposit growth slowed and credit volume increased in Iraq in September.
The Central Bank of Iraq announced on Wednesday that it had recorded a decline in the growth of deposits at banks operating in Iraq for the month of September, while the growth of credit increased.
An official statistic, seen by Shafaq News Agency, showed that total deposits amounted to 113.928 trillion dinars, registering a decrease of 1.82% compared to August, in which deposits amounted to 115.997 trillion dinars.
Central government deposits amounted to 35.398 trillion dinars, public institutions deposits to 25.531 trillion dinars, while private sector deposits reached 52.999 trillion dinars.
In contrast, credit volume growth increased by 0.57% to reach 73.942 trillion dinars in September, compared to 73.521 trillion dinars in August.
Credit extended to the central government amounted to 26.392 trillion dinars, to public institutions 2.431 trillion dinars, while credit extended to the private sector reached 45.119 trillion dinars.
These data show that Iraqi banks continue to support credit, despite the decline in the growth of deposits, in light of the current economic conditions.
Shafaq.com