(MENAFN- Iraq Business News) By John Lee.
The Central Bank of Iraq (CBI) has announced a decrease in the ratio of non-performing loans to total credit.
It said the ratio of non-performing loans to total cash credit decreased to 6.3 percent in 2023, compared to 7.2 percent in 2022, 8.8 percent in 2021, and 8.9 percent in 2020.
Additionally, the ratio of non-performing loans to total deposits in 2023 stood at 3.2 percent, compared to 3.4 percent in 2022, 4.9 percent in 2021, and 5.2 percent in 2020.
The Central Bank said that this ratio reflects the efficiency of the Iraqi banking sector in developing its products and adopting new methods and advanced systems in credit granting to reduce the risk of default, following global standards.
(Source: CBI)
The post Iraq sees Improvement in Non-Performing Loans first appeared on Iraq Business News .
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