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Iran’s banking facilities up 40%

Business Materials 12 April 2017 20:50 (UTC +04:00)

Tehran, Iran, April 12

By Mehdi Sepahvand –- Trend:

The amount of banking facilities issued by Iranian banks during last fiscal year (which ended March 20) showed a 40-percent rise, said Valiollah Seif, president of the Central Bank of Iran (CBI).

Last fiscal year Iranian banks paid over 4 quadrillion rials ($154 billion) as banking facilities, Seif said, IRIB news agency reported April 12.

The rise came at a time when banks faced many problems, but it was the CBI that introduced solutions and helped things grow better, he said.

Strengthening the financial sector, keeping a balance between income and expenditure, and balancing income and bank debt were the major solutions adopted, he noted.

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