CBI reports decline in non-performing loans ratio

Shafaq News / The Central Bank of Iraq's (CBI) Statistics and Research Department revealed on Wednesday a decrease in the ratio of non-performing loans to total credit.

The Statistics and Research Department reported that the ratio of non-performing loans to total cash credit witnessed a declined to 6.3% during 2023, compared to 7.2% in 2022, while in 2021 it was 8.8%, and in 2020 it stood at 8.9%.

“The ratio of non-performing loans to total deposits for 2023 recorded a percentage of 3.2% compared to the last three years, where it was 3.4% in 2022, while it reached 4.9% in 2021, and was 5.2% in 2020.”

CBI emphasized that this ratio is an indicator of the efficiency of the Iraqi banking sector in its efforts to develop its products and adopt new methods and advanced systems in granting credit and reducing default risks per globally adopted practices.