CBI Frets Over Debt of Non-Gov’t Banks

The Central Bank of Iran in its latest report said debts of banks and credit institutions to the CBI totaled 1.5 quadrillion rials ($11.32 billion) in the calendar month September 22, up 37.3% year on year and 14.1% compared to the last yearend (March 21).
Statistics indicate the major cause of increase in the banking system’s debts originates from overdrafts of non-government and private banks along with those of credit institutions. Figures show these banks and institutions owed 1.01 quadrillion rials ($7.65 billion) to the CBI during the month, registering a staggering 100.1% hike compared to same month last year and 26.6% rise compared to last year.