The value of deposits in the Iraqi banking sector decreased by 10 trillion dinars
The value of deposits in the Iraqi banking sector decreased by 10 trillion dinars
2025-03-06 03:34
Shafaq News/ The “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations stated on Thursday that the Iraqi banking sector witnessed a noticeable decrease in the total value of deposits by 9% during the year 2024.
The institution indicated in a report today that the value of deposits “decreased from 133.5 trillion Iraqi dinars at the end of 2023 to 123.5 trillion Iraqi dinars, which means a loss of deposits worth 10 trillion dinars.
The institution explained the details of the decline, including those related to the government sector. Government sector deposits witnessed a significant decline of 14%, falling from 47.3 trillion Iraqi dinars to 42.8 trillion Iraqi dinars.
This decline is attributed to a decrease in government revenues or a change in liquidity management policies, according to the report.
Regarding public institutions’ deposits, public institutions’ deposits decreased by 7.4%, from 29.6 trillion Iraqi dinars to 27.4 trillion Iraqi dinars.
As for the private sector, private sector deposits recorded a decrease of 6.52%, falling from 56.5 trillion Iraqi dinars to 53.2 trillion Iraqi dinars. This decline may be a result of declining confidence in the banking sector.
As for the decline according to the nature of deposits, it includes current deposits, which decreased significantly by 11.6%, from 107.5 trillion Iraqi dinars to 97.4 trillion Iraqi dinars. This decline is considered the most influential on total deposits, especially since current deposits constitute the largest percentage of total deposits.
While fixed deposits witnessed a slight decrease from 9.67 trillion Iraqi dinars to 9.62 trillion Iraqi dinars, reflecting relative stability in this type of deposits.
As for savings deposits, contrary to the general trend, savings deposits rose by a small percentage of 0.7%, from IQD 16.3 trillion to IQD 16.43 trillion, indicating a limited shift towards saving.
shafaq.com
