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The Central Bank of Iraq reveals a decrease in the percentage of non-performing loans
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Baghdad today - Baghdad
Today, Wednesday (April 3, 2024), the Department of Statistics and Research at the Central Bank of Iraq revealed a decrease in the ratio of non-performing loans to total credit.
The department said in a statement received by “Baghdad Today” that “the ratio of non-performing loans to total cash credit witnessed a decline, reaching (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 it recorded (8.8%).” %), but in 2020 it reached (8.9%).
She added, "The ratio of non-performing loans to total deposits for the year 2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%), while it was (5.2%) in Year 2020.
According to the statement, the bank stressed that “this percentage is an indicator of the efficiency of the Iraqi banking sector in its endeavor to develop its products, adopt new methods and advanced systems for granting credit, and reduce the risk of default in accordance with global contexts.”
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