Iranian commercial banks’ assets hit $70B

Business Materials 19 November 2014 18:08 (UTC +04:00)

Baku, Azerbaijan, Nov.19

By Fatih Karimov - Trend: Assets of Iranian commercial banks amounted to $70 billion in the first half of the current year, the Central Bank of Iran said.

The figures shows 19.1 percent growth year on year, Iran's Fars news agency reported Nov. 19.

Foreign assets rose 56.9 percent to $7 billion, the report added.

The USD free market exchange rate is currently about 32,000 rials in Iran.

The current Iranian year began on March 21.

Iran's liquidity grew by 30.2 percent in the 12-month period, ending on August 22, 2014, compared to the same period in 2013.

The volume of liquidity exceeded $200 billion in the 12 month period, Iran's Fars news agency reported Nov. 5.

The liquidity growth rate in Iran has doubled during President Hassan Rouhani's first year incumbency, statistics of the Central Bank of Iran show.

The volume of liquidity has increased by $34 billion since Rouhani took office in August last year, Iran's Tasnim news agency reported on June 18.

This is while liquidity had grown by around $16 billion between 2005 and 2013.

Edited by CN