Bad Loans Jump 20% to $8b

Non-performing loans (NPLs) of Iranian banks and credit institutions reached 2,250 trillion rials ($8.3 billion) by the end of the first quarter of the current fiscal year (June 21), the  Central Bank of Iran said.
Compared to the January-March quarter, NPLs shot up by 20%. It was 3.7% higher on an annualized basis, the Tehran Chamber of Commerce, Industries, Mines and Agriculture said, citing CBI data.
Tracking banking data in the past three years, TCCIM said the NPL growth has been uneven but on the whole is of the ascending order.
NPLs were logged at 1,510 trillion rials ($5.5b) in early 2019, before rising to 1,740 trillion rials ($6.4b) in June 2019 and to 2,170 trillion rials ($8b) as of June 2020.