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Iranian non-governmental sector’s ‎debts to banks up by 18%

Business Materials 19 November 2017 13:28 (UTC +04:00)

Baku, Azerbaijan, Nov. 19

By Fatih Karimov– Trend:

Iranian government's debt (including state-run companies) to the banking system has reached 2,373.7 trillion rials (each 35,000 rials making one USD) by Sept. 22.

The figure, which includes debts of the government and state-run companies to the Central Bank of Iran (CBI) as well, which is 16.3 percent more than in the same period of last year, CBI said.

Debt has increased by 8 percent in comparison with the end of the last fiscal year (March 20, 2017) which had the figure at 2,197.5 trillion rials.

That figure was 1,738.6 trillion rials and 1,466 trillion rials in the preceding fiscal years (March 2016 and March 2015 respectively).

Government's debt to the banking system witnessed a rise of 21.3 percent by Sept. 22, while compared to Sept. 22, 2016 and stood at 2,089.1 trillion rials.

Meanwhile, debts of the Iranian state-run companies to the banking system stood at 284.6 trillion rials by Sept. 22, 10.9 percent less, year on year. The figure has decreased by 16.2 percent in comparison with the end of the last fiscal year (March 20, 2017).

Meantime, debts of the non-governmental sector to the country’s banking system accounted to 9,915.7 trillion rials by Sept. 22, indicating a rise of 17.7 percent compared to the preceding 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.

The CBI report also indicates that debts of Iranian banks and credit institutions to the Central Bank have reached 1,097.1 trillion rials by Sept. 22, 16.4 percent more, year on year.

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