Economy, Business And Markets

EDBI Performance Report

EDBI Performance ReportEDBI Performance Report

An statistical report on the performance of Export Development Bank of Iran (EDBI) for the first seven months of the current Iranian year May 21- October 21, 2014) was released, revealing details about the bank’s awarded loans and services. According to the report, the amount of loans paid by the bank in foreign currenciy and rial increased by 24 and 41 percent respectively , compared to the similar period of the previous year. The total amount of loans paid by EDBI either in rial or in foreign currency increased from 22 trillion rials ($820 million) to more than 28 trillion rials ($1 trillion), showing a 28 percent increase compared to a year before. Domestic letters of credit issued by the bank increased in value form 811 billion rials ($30 million) to over 1,100 billion rials ($41 million), compared to the same period of a year before. Although the number of rial-based letters of guarantee indicates a significant decrease compared to the previous year, which is due to the imposed sanctions on Iran, the performance report shows a 10 percent increase in the overall number of letters of guarantee.