Banks in the Red

Troubled banks are now in the spotlight. According to the deputy head of Monetary and Banking Research Institute, all Iranian banks are now suffering losses. “Almost all our banks are unprofitable and this is while state-owned banks had great volumes of capital so you can imagine how the situation is in smaller private banks,” Kamran Nadri was quoted as saying by Banker.ir. “Although there is no doubt that many of the banks established in the last decade are not in a good condition and suffering losses, none of them had reported the situation due to transparency issues,” he said. Nadri noted that reforming unprofitable banks will not be easy and it will take them a long time to restructure and become profitable again.