A study released by "Association of Private Banks in Iraq," unveiled that the quarterly earnings of 22 Iraqi banks among the 30 private banks, amounted to ID427 billion (356 million dollars), a growth of 90 percent compared to the profits achieved in the same period of 2011, according to Al-Hayat newspaper.
The study pointed out that the total revenue achieved by the three banks, which topped the comparison table in terms of profitability, the " North Bankfor Finance and Investment", "United Bank for Investment" and "Bank of Kurdistan."
There is a big difference between the total revenue of each of the three banks; the first made 105 billion dinars, while the second 75.1 billion, and the third 52.2 billion dinars.
Munther Kafta, the managing director for " North Bank for Finance and Investment", said the figures come in the context of a comparison of the quarterly financial statements in private banks, expressing satisfaction over the results achieved by banks in this stage.
Aswat Aliraq
3 January
