Business And Markets

Sight Deposits Attractive Still

Sight Deposits Attractive Still
Sight Deposits Attractive Still

Central Bank of Iran data shows despite decline in growth of sight deposits, depositors are keen about keeping their money in banks so long as term interest rates on deposits and sight deposits are attractive.
Total term deposits reached 29,792.1 trillion rials ($119 billion) by end of the first quarter on June 21, rising 38.2% on the same quarter last year.
The volume increased by 1,940 trillion rials ($7.7b) or 7% in the three Iranian months, according to data published on the CBI’s website.
Sight deposits recorded higher annual growth, reaching 6,546 trillion rials ($26b) in Q1 to post 47.4% rise over 12 months. On a quarterly basis, it jumped 6% or 372.3 trillion rials ($1.5b).


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