Banks’ Deposits Outpace Lending

September 30, 2020
banking

C entral Bank of Iran data show growth in deposits outpaced lending during the month to July 21. It reported that the gap between banks’ outstanding loans and deposits widened further by 9,338 trillion rials ($33 billion).

An estimated 30,586.2 trillion rials ($110b) in deposits were held by banks and credit institutions during the month. The amount includes lenders’ legal reserves.

The figure indicates growth of 8,421.1 trillion rials ($30b) or 38%, compared to the corresponding month last year.

Total outstanding loans exceeded 21,248.23 trillion rials ($75b), indicating a 31.9% y/y growth.

financialtribune



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