Iranian banks give 83% more loans in current year
Tehran, Iran, Sept. 27
By Milad Fashtami - Trend:
Iranian banks gave 1,463 trillion rials (some $45.7 billion based on the exchange rate of US dollar at the free market) worth of loans in the first half of the current Iranian calendar year (March 21 - September 22).
USD exchange rate in Iran is currently about 32,000 rials.
The figure shows a 83-percent increase compared to the same period two years ago, Iran's ISNA News Agency reported on October 27.
The assets have been allocated to different sectors such as agriculture, industries and mines, housing, trade, etc.
The governor of Iran's Central Bank previously vowed that the country's banks would give around 2,850 trillion rials by the end of the current Iranian calendar year. So far, half of the mentioned figure has been secured.
Iran has been struggling with bad loans in the past few years.
Iran's Melli Bank, Parsian Bank and Tejarat Bank have the highest amount of bad loans in Iran.
Of the total 870 trillion rials (about $28 billion) in bad loans, Melli Bank's share is 130 trillion rials (about $4.2 billion), Parsian and Tejarat banks' shares is 110 trillion rials each (about $3.5 billion), Iran's Mehr news agency reported on August 3.
Some 61 people have debts of over $32 million, accounting for 19 percent of the total debt.
On June 18, Iran's economy minister Ali Tayyebnia said the real value of the Iranian banking system's bad loans is $47 billion.
Although it has been announced that the national banking system's bad loans has amounted to $25 billion, but the real value is $47 billion, Iran's Mehr news agency quoted Tayyebnia as saying.
On May 11, a source told Iran's Fars news agency on the condition of anonymity that some 900 persons owe the banking system about $4 million each.