Value of debts to banking system in Iran up by 17.6%?

By  Trend

Iranian government's debt (including state-run companies) to the country’s banking system has reached 2,456.8 trillion rials (each 35,700 rials making one USD) by October 22.

The figure, which includes debts of the government and state-run companies to the Central Bank of Iran (CBI) as well, is 20.5 percent more than in the same period of last year, according to the latest data released by CBI.

Debt has increased by 11.8 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 25.4 percent by October 22, while compared to Oct. 22, 2016 and stood at 2,169.8 trillion rials.

Meanwhile, debts of the Iranian state-run companies to the banking system stood at 287 trillion rials by Oct. 22, 7.2 percent less, year on year. The figure has decreased by 15.5 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 9,967.5 trillion rials by Oct. 22, indicating a rise of 17 percent compared to the preceding year.

The CBI report also indicates that debts of Iranian banks to the Central Bank have reached 1,123.8 trillion rials by Oct. 22, 14.5 percent more, 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.