Main Housing Bank Is Poised for Better Days

The state-owned Bank Maskan - the main housing lender - is coming out of the red and poised to make a profit fiscal 2022-23, a board member said.

On its financial performance, Mohsen Fazelian said that the bank’s financial status has been improving slowly but steadily after 2020, HIBNA, the news portal of Bank Maskan, reported.

“Net loss of the bank declined from 10.5 trillion rials [$40 million] in March 2020 to 8 trillion rials [$30m] in March 2021,” Fazelian said.

Total income of the bank rose from 125 trillion rials ($480m) in 2019-20 to 153 trillion rials ($588m) in the last fiscal year (ended March 2021).