Economy, Business And Markets
0

Banks’ NPLs Top $30b

Days after a controversial parliamentary report, a lawmaker has announced the new official volume of non-performing loans in Iran’s banking system
About 60% of the total volume of NPLs in Iran are considered irrecoverable.About 60% of the total volume of NPLs in Iran are considered irrecoverable.
By the end of last fiscal year (March 20, 2018), banks’ non-performing loans stood at 1.3 quadrillion rials (30.87 billion) while other loans were registered at 700 trillion rials ($16.62 billion), which bring the total interests on all loans to about 2 q

Iranian banks and credit institutions held a total of about 1.3 quadrillion rials ($30.87 billion) in non-performing loans by the end of the previous fiscal year on March 20, 2018, according to the rapporteur of Majlis Economic Commission.
"By the end of last [fiscal] year, banks' non-performing loans stood at 1.3 quadrillion rials while other loans were registered at 700 trillion rials ($16.62 billion), which bring the total interests on all loans to about 2 quadrillion rials ($47.49 billion)," Rahim Zare' was quoted as saying by ICANA, the official news outlet of the parliament on Saturday.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com