Iran's Central Bank Assets Rise 27.8%

EghtesadOnline: Total assets of the Central Bank of Iran reached 7.1 quadrillion rials ($ 70.1 billion) in the first seven months of current fiscal year, registering 27.8% growth year-on- year and 16.1% growth compared to the end of the previous fiscal in March 2018.

News ID: ۷۴۶۳۶۲

22 December 2018

According to CBI data, foreign assets accounted for about 63% of the total assets at 4.5 quadrillion rials ($ 44.7 billion) by October 22. The figure indicates a 26% jump compared to the same month the previous year and 11% growth compared to the last month of the previous fiscal.

Total debt of the government and its affiliated companies to CBI exceeds 663 trillion rials ($6.5 billion) which shows 6.2% growth YOY and 25.6% growth compared to the end of the last fiscal.

The CBI report shows the volume of CBI  assets in banknotes and coins by October 22 stood at 40 trillion rials ($396 million), down 47% YOY and up 40.8% compared to the end of the previous year, Financial Tribune reported.

Debts of banks to CBI account for 22% of its total assets, amounting to 1.6 quadrillion ($15.8 billion) in the first seven months of current fiscal ending October 22, which shows 42.9% surge compared to the same month of the previous year and 21.6% rise compared to the end of last fiscal.

The CBI report shows that banks and credit institutions held 1.8 quadrillion rials ($18 billion) in deposit with CBI by the end of seventh Iranian month -- up 21% annually and 13.5% compared to the last fiscal yearend.

Additionally, government-affiliated institutions deposited a total of 604 trillion rial ($5.9 billion) with the CBI, indicating an annual rise of 69.8% and 28.5% growth compared to March 20.

CBI has 2.2 quadrillion rial ($22 billion) in foreign exchange liability that accounts for 31% of the entire debtsand liabilities, indicating 29.2% rise compared with the same month last year and 16.5% growth compared to the yearend.

The figures for the time period spanning October 2016 to October 2017 shows 14.4% growth in CBI foreign exchange debt indicating that the growth rate of CBI foreign debt doubled in October of this year.

Assets and Liabilities of Commercial and Specialized Banks

By the end of the seventh Iranian month, commercial banks held a total of 5.3 quadrillion rials ($52 billion) in assets, up 19.2% YOY and 1.1% annually.

Foreign assets belonging to commercial banks witnessed 43% growth YOY and 14.5% compared to the last month of previous fiscal to register 574 trillion ($5.6 billion)  by October 22.

Also, non-governmental sectors had 3.3 quadrillion rials ($33 billion) in deposit with commercial banks on October 22, an annual rise of 26.2%, which account for 62% of total  commercial banks liabilities.

The CBI data only covers banks operating inside Iran and the figures exclude commercial branches outside the country.

Also, specialized banks' assets on October 22 stood at 5.7 quadrillion rials ($56 billion). The figure shows 18% jump compared to the same month last year. Additionally, 5.1% growth was reported compared to last month of the previous fiscal.

Non-governmental sector’s liabilities to specialized banks account for almost half of their assets which amounted to 2.5 quadrillion rials ($25.4 billion) in October, registering 17.3% growth YOY.

This is while the sector had 1.7 quadrillion rials ($17.4 billion) in deposit with specialized banks. The figures show 14.6% YOY and 11.3% increase compared to the yearend.