Baku, Azerbaijan, Jan. 17
By Fatih Karimov – Trend:
Bad loans of the Iranian banking system have\ reached 1,103 trillion rials (about $33.98 billion based on official rate of 32,369 rials per each USD) by Nov. 21, 2016, Iran’s Central Bank said.
The figure stood at 802.5 trillion rials by the end of last fiscal year(ended March 2016).
Meanwhile, Tasnim news agency reported Jan. 17 that bad loans of the Iranian banking system indicate a rise by over 70 percent in the last three years from 645 trillion rials in August 2013, when President Hassan Rouhani took office.
Iran's banking system has been struggling with bad loans in the past few years. Banks of Melli, Parsian, and Tejarat have the highest amount of bad loans in Iran.
The ratio of non-performing loans was 17 percent of total bank debt in 2012-2013, equivalent to 10 percent of Iran’s non-oil gross domestic product, the International Monetary Fund said in a report in 2014.