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Gov’t, Private Sector Debt to Banks Soar
Gov’t, Private Sector Debt to Banks Soar

Gov’t, Private Sector Debt to Banks Soar

The numbers also show that banks' total reserve requirement reached 1.1 quadrillion rials ($34.5 billion) by the end of the first half of the year, marking a 13.8% growth in H1 and 23.5% compared to the previous year.
Term deposits accounted for 83% or 9 quadrillion rials ($282.7 billion) of the money kept with banks. The total amount of term deposits grew 10.6% during the first half of the fiscal year.

Gov’t, Private Sector Debt to Banks Soar

Government debts to the banking sector jumped to 2.041 quadrillion rials ($64 billion) by the end of the sixth month of fiscal year (September 21), marking a 17.4% growth from the beginning of the year on March 20.
Data released by the Central Bank of Iran also indicates a 14.5% growth in private sector debt to banks during the same period.
A year-on-year analysis however reveals that government and private sector debt to the banking sector shot up by 26.5% and 27.6% respectively.
Private lenders posted the highest increase in government borrowing, with overdue surging by 20.2% during the first half of the year. Government debt to three state-owned commercial banks and five state-owned specialized banks grew by 7.3% and 16.2%, respectively.
Private sector debt to the banking sector reached 8.427 quadrillion rials ($264.7 billion) by September 21, of which 817 trillion rials ($25.6 billion) was accrued interest. The amount shows a 27% growth y/y, and 15.7% increase compared to six months ago.
Private banks accounted for 64.6% of private sector debts, while specialized (government-owned) banks accounted for 20%.  
Increase in Deposits
The private sector’s total deposits in banks amounted to 10.9 quadrillion rials ($342.4 billion) by September 21, up 11% compared to the start of the fiscal year.
CBI data also shows that 20 plus  private banks accounted for 72.1% of the total deposits, whereas three state-owned commercial banks (Bank Melli Iran, Bank Sepah and Post Bank of Iran) had 17.7% of private sector deposits by the said date.
Term deposits accounted for 83% or 9 quadrillion rials ($282.7 billion) of the money kept with banks. The total amount of term deposits grew 10.6% during the first half of the fiscal year.
Short-term deposits accounted for 42% of total term deposits by September 21, indicating 12.7% growth during the six-month period. The remaining 58% were long term deposits, which recorded 8.9% growth compared to the beginning of the current fiscal.
Qarzol-Hasaneh (interest-free) savings recorded 10.5% growth in the period, reaching 520 trillion rials ($16.3 billion).
Debt of Banks to CBI
Banks owed 942.2 trillion rials ($29.5 billion) to the CBI by the end of the first half of the fiscal year – a 12.7% growth compared with the beginning of the period. Private banks debt to the CBI increased by 45% in the same period.
Government debt to the CBI also registered 22.2% growth during the first half of the fiscal year, rising to 636 trillion rials ($19.9 billion) by September 21.
The numbers also show that banks' total reserve requirement reached 1.1 quadrillion rials ($34.5 billion) by the end of the first half of the year, marking a 13.8% growth in H1 and 23.5% compared to the previous year.
CBI data also showed that the total foreign exchange assets of banks was 2.3 quadrillion rials ($72.2 billion) by September 21 -- a 1.7% growth in H1 and up 2.9% year-on-year.

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