Economy, Business And Markets

Banks’ Debt to CBI

Banks’  Debt to CBI Banks’  Debt to CBI

The banking sector’s total debts to the Central Bank of Iran stood at 893 trillion rials ($28.9 billion) as of May 20 -- an increase of 6.6%, year-on-year according to Central Bank of Iran’s data released on Sunday. During the second month of the fiscal year ending May 20, private banks managed to reduce their debts to the central bank by 12.6% .However, debts of state-owned commercial banks and specialized banks grew by 55% and 1.9%, respectively. Private sector’s deposits in the banking system also saw a 2.7% growth during the two-month period. Liquidity marked a 2.1% growth during the first two months of the fiscal year, standing at 10.385 quadrillion rials ($336.28 billion).