Iranian banks owe $22B to Central Bank
Baku, Azerbaijan, Jan. 28
By Fatih Karimov - Trend: The debt of Iranian banks to the Central Bank has exceeded 770 trillion rials (about $22 billion) in the first nine months of the current Iranian year (March 21-December 21, 2014).
The debt of the banking system to the Central Bank rose by 29.6 percent year on year, Iran 's Fars news agency reported Jan. 28.
Debt of the government sector to the Central Bank reached 960 trillion rials (about $27 billion), a 26.7 percent rise year on year.
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.
Sixty-one persons have debts of over $32 million, accounting for 19 percent of the total debt.
Edited by CN