Business And Markets

Banks Flush With Term Deposits

Banks Flush With Term Deposits
Banks Flush With Term Deposits

Central Bank of Iran data show that term deposits are growing over sight deposits, yet another indication that people keeping their money in banks for longer periods. 
Total term deposits were 34,760.7 trillion rials ($128.7 billion) by end of the eighth calendar month on Nov. 21 -- 43.5% higher on the same period last year. Sight deposits climbed 38.3% to reach 7,659.7 trillion rials ($28.3b) during the same period. 
Term deposits lagged behind sight deposits in the past two years as steep volatility in asset markets pushed depositors to invest in safe havens like stocks, gold and foreign currency market in pursuit of higher returns.    


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