The banking sector accounts for 95% of the trading volume on the stock exchange
economic Last update 01/11/2022 | 12:13 pm
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, announced, on Tuesday, that the improvement in the performance of the Iraqi Stock Exchange during the past year is due to the banking sector, which accounted for 95% of the trading rate.
Tariq said in a statement seen by "The Information", that "95% of the trading volume in the stock exchange is attributed to the banking sector, as the number of traded shares reached 930 billion shares, with a value of 812 billion dinars, indicating that compared to the year 2020, the growth rate of the number of shares Traded for the banking sector amounted to 142.3%, as it was 368.4 billion shares in the year 2020, while 892.8 billion dinars in the year 2021.
He added, "The value of traded shares increased by 244%, as it was in the year 2020 more than 193.6 billion dinars, while last year it amounted to 666.5 billion dinars, explaining that the number of deals rose to 40,856 deals last year, while it was 18,792 deals in the year 2020"..
Tariq noted that "the policy of the Central Bank contributed significantly to the improvement and development of the performance of the banking sector during the past year, which contributed to the rise in the shares of some banks."
He stressed that "the Iraqi National Bank's acquisition of the branches of the Lebanese Bank of Audi in Iraq is considered one of the most important positive events that affected the market share, in addition to the merger of the First Capital Bank and the International Islamic Bank and the expansion of some Iraqi private banks abroad through the opening of branches."
He pointed out that "in the year 2020, four listed banks increased the capital, namely Al-Taif Al-Islami, Asia Iraq, Al-Chor and Al-Amin Iraq, while four listed banks distributed profits, namely the Commercial Bank, the National Bank of Iraq, Al-Mansour and Al-Taif."
And the Iraq Stock Exchange announced a 131% increase in traded shares during the year 2021 compared to the year 2020. End / 25