Economy, Business And Markets

Mellat Bank Reduces NPLs

Mellat Bank Reduces NPLsMellat Bank Reduces NPLs

Mellat Bank has been the only bank to effectively reduce its non-performing loans (NPL) during the past year, CEO of Tarh Andisheh Behsaz Mellat Co. Naser Tahbaz announced. The company which assists banks in retrieving bad debt is the most successful company of its kind in Iran. According to the official while the ratio between NPLs and the loans given in most other Iranian banks is above 10 percent (in certain cases surging as high as 17 or 18 percent), Mellat Bank is the only lender with a ratio of 7.2 percent. With the services of the company, the ratio can be reduced to five percent if Mellat Bank continues its course of action. Mellat is one of the largest privately owned commercial lenders in Iran with headquarters in Tehran.