Eight Iraqi banks' assets surpass 13 Trillion IQD, signaling growth

Shafaq News / The "Future Iraq" Foundation, dedicated to economic affairs, reported on Friday that the assets of eight Iraqi private banks have surged over the past five years to more than 13 trillion IQD.

The eight banks are as follows: Mansour Bank, Commercial Region Bank, Ashur International Bank, Islamic South Bank, Iraqi Islamic Bank, Baghdad Bank, Development Bank, and Iraqi Al-Ahli Bank.

The foundation stated in a report published today that the assets of these banks have increased by 108% from 2019 to 2023, reaching a total value of 13.7 trillion IQD in 2023, up from approximately 6.6 trillion IQD in 2019.

The report attributed this increase to the growth of deposits in these banks, which have risen by 131% to a total of 8.8 trillion IQD in contrast to the 3.8 trillion IQD in 2019.

Moreover, the revenues of these banks have soared by 285% compared to 2019, with an expected total of 908 billion IQD by the end of 2023, up from 235 billion IQD in 2019, as outlined in the report.