Financial Advisor to the Association of Private Banks: Banks' capital grew by 98% during the current year
Economy News Baghdad:
"The banking sector has developed significantly over the past years," said financial advisor and banking Samir Al Nusairi, noting that bank capital grew by 98% compared to last year.
Al Nusairi said in his speech at the conference "Banking and Investment" held in Baghdad, and attended by "Economy News", "The official indicators and data issued by the Central Bank confirms the growth in the capital level by 98% compared to last year and in terms of assets by 16% Deposits at 15% and credit at 77%. "
He explained that "the credit index is one of the most important indicators that indicate the contribution of the banking sector in development, especially as Iraq is experiencing a financial crisis since mid-2014."
He pointed out that "the Iraqi banking and financial sector creates opportunities from crises and achieved a financial victory," noting that "the next five years will achieve financial sustainability and become the banking sector is the main link in the Iraqi economy."