Iranian Banks Downsizing Branches

Iran’s banks and credit institutions have continued the process of reducing their local branches in the past three months, according to latest numbers disclosed by the Central Bank of Iran, although the overall decrease is not significant.
Based on the CBI report published on its official news website on Wednesday, all banks and credit institutions in the country had 20,590 branches by the end of the third month of the current fiscal year (June 21). This indicated that 125 branches have been closed down compared with the end of the previous fiscal year on March 20, 2018, showing a minor 0.6% decrease.