Economy, Business And Markets

NPLs Recovery in Tejarat Bank

NPLs Recovery in Tejarat BankNPLs Recovery in Tejarat Bank

The ratio of NPLs or non-performing loans in Tejarat Bank has reduced from the previous 17.2 percent to 15.2 now, according to central bank data.

The figure is bound to decrease to less than 15 percent by year end, said member of the bank’s board of directors Alireza Akbari.

To reduce the amount of NPLs, the bank set up a supreme committee to address the problem, Akbari said, as reported by ISNA.

Since the beginning of the current fiscal year, the committee has attended to nearly 280 cases so that the NPLs of the bank have now amounted to 900 billion rials ($32.6 million at official exchange rate), according to the official.