Iran's CBI foreign assets hits $633.58
Tehran, Iran, Jan. 10
By Milad Fashtami - Trend:
The Central Bank of Iran's assets in foreign banks stood at $1,679.1 trillion rials (some $633.58 based on the official exchange rate of US dollar) at the end of the eighth calendar month of the current Iranian calendar year (Which start on March 21, 2014).
The figure shows some 9.3 percent increase compared to same period previous year, Iran's Fars News Agency reported on Jan. 10.
The figures is also 0.1 percent more than the last calendar month of previous year (ended on March 20).
Domestic banks' debts to the Central Bank of Iran also reached 737.5 trillion rials (some $27.8 based on the official exchange rate of US dollar).
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.
It was reported in August 2014 that 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).
Sixty-one persons 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.
On May 11, a source told Iran's Fars news agency on the condition of anonymity that some 900 persons owe around about $4 million each to the banking system.
"Eighteen persons owe about $195 million each to the banking system," the source said, adding that two hundred eighty three persons owe about $20 million each to the banking system.
"One hundred forty five persons owe around $40 million each to the banking system," he said.
"And three persons owe around $400 million each to the banking system. Two of them are in jail for further investigations," the source added.