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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    In numbers ... an increase in bank loans to citizens and companies

    Rocky
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    • Post n°1

    In numbers ... an increase in bank loans to citizens and companies Empty In numbers ... an increase in bank loans to citizens and companies

    Post by Rocky Tue 16 Mar 2021, 2:53 pm

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    [size=55][size=35]In numbers ... an increase in bank loans to citizens and companies    [/size]
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    • [ltr] March 16, 2021 - 6:08[/ltr]
       
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    [size]
      Sumer News: Baghdad ..[/size]
    The Iraqi Private Banks Association announced that the percentage of loans provided by banks to citizens and companies increased by 15.5% during the year 2020 compared to 2019, indicating that this increase is due to the recent policy of the Central Bank of Iraq, which increased the various lending products and contributed to supporting banks and increasing the credit portfolio.   
    The executive director of the Iraqi Private Banks Association, Ali Tariq, said in a statement, that "despite the difficult circumstances that Iraq went through during the past year, as a result of the financial crisis and the complete closure of the country due to the Corona virus, which affected economic and commercial activity, banking indicators increased compared to years Past. "
     
    He added that "the capital of banks increased during the past year, by 8.5%, to become 16.76 trillion dinars, due to some banks increasing their capital as well as opening new banks."   
    He pointed out that "most of the growth in bank capital was in private banks."  
    And that "deposits of the banking sector increased by 3.13% to become 84.75 trillion dinars, after it was 82.1 trillion dinars in the year 2019, and this growth is simple due to the crises that affected the economic situation throughout the country during the past year."
    He stressed that "the pledge credit, grew by about 2%, as it became 25.77 trillion dinars, and this limited growth is due to the decrease in establishing new projects in the country," noting that "the cash credit provided by banks to citizens increased by 15.5%, as it rose from 42 trillion." Dinars in the year 2019 to become 49.75 trillion dinars in the year 2020, and this increase is due to the recent policy of the Central Bank of Iraq and the initiatives it launched in recent months, which contributed to the banks increasing lending to citizens and projects.  
    He continued, "The bad debts of citizens rose by 6.47% to become 4.43 trillion dinars, which is a very large number owed by borrowers to the banking sector."   
    According to Tariq, "the increase in bad debt growth may force banks to impose more measures in exchange for granting the loan, which is a very worrying indicator that affects the work of the development banking sector."
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