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Banks Unwilling to Lend

EghtesadOnline: From the beginning of fiscal 2018-19 up until September, the loan-to-deposit ratio has been of the descending order indicating that banks are exercising extra caution when it comes to lending.
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Publish Date:08/January/2020 | 11:06

Iran: Bank Deposits Rise 30% in 1 Year

EghtesadOnline: Deposits with Iranian banks and credit institutions have been rising over the past year to reach 23,493.9 trillion rials ($181.4 billion as per current exchange rates) by the end of sixth calendar month to September 22, according to Central Bank of Iran.
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Publish Date:30/December/2019 | 24:37

Banks Lend $40b in 8 Months

EghtesadOnline: Banks and credit institutions paid 5,313 trillion rials ($40.8 billion) in loans in the first eight months of current fiscal year to Nov.21.
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Publish Date:25/December/2019 | 10:38

Iranian Banks Streamlining Operations Before Merger

EghtesadOnline: An unprecedented bank merger is underway in Iran since last March in which five banks and credit institutions affiliated to military organizations are being merged with the state-owned Bank Sepah.
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Publish Date:07/December/2019 | 11:30

Banks Shutter 438 Branches in 7 Months

EghtesadOnline: Data from the Central Bank of Iran shows lenders are working to cut extra and unwanted branches over the past two quarters.
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Publish Date:13/November/2019 | 10:20

Central Bank of Iran: Bank Deposits at $195b

EghtesadOnline: Total deposits with banks and credit institutions reached 22,165 trillion rials ($195 billion) during the fourth month (June 22- July 22) of the current fiscal year indicating 26.9% annual growth.
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Publish Date:10/November/2019 | 24:27

Obligatory OTP Service of Banks Suspended

EghtesadOnline: Governor of the Central Bank of Iran says making the one-time password mandatory for banks is not possible now due to the problems of both lenders and customers.
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Publish Date:09/November/2019 | 13:42

Banks Lend $34 Billion in 6 Months

EghtesadOnline: Banks and credit institutions in Iran lent 3,821 trillion rials ($34.1 billion) during the first six months (March 21-Sept. 22) of the current fiscal year.
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Publish Date:03/November/2019 | 10:45

National Development Fund of Iran Lends $4.9b in 3 Months

EghtesadOnline: The National Development Fund of Iran, the country’s sovereign wealth fund signed 15 agency contracts with banks to pay $5.8 billion in foreign currency loans during the first quarter of the current fiscal year (March 21- June 21).
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Publish Date:30/October/2019 | 11:28

Cyber Insurance Planned for Banks

EghtesadOnline: Central Insurance company of Iran (CII), the regulatory body of Iran’s fast growing insurance industry, is working on a scheme to cover bank accounts against cyberattacks.
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Publish Date:23/October/2019 | 11:34

Bankers Want to Delay Reforms

EghtesadOnline: In a recent meeting with lawmakers, chief executives of banks expressed their opposition towards implementation of banking sector reforms.
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Publish Date:09/October/2019 | 11:20

An Overview of Iranian Banks ’ Tech Priorities

EghtesadOnline: Iran’s banking sector, for a variety of reasons, has failed to keep up with the rapid pace of technological advancement in most countries since early 2000. However, lenders have resorted to some new approaches towards banking and financial technologies in their quest for not being left too far behind. But much more needs to be done.
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Publish Date:08/October/2019 | 06:18

Central Bank of Iran Restricts Ownership of Banks ’ Shares

EghtesadOnline: In line with efforts to help promote corporate governance and protect the rights of bank depositors and shareholders, the Central Bank of Iran has announced restrictions on ownership of banks’ shares.
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Publish Date:05/October/2019 | 24:57

Bank Deposits in Iran Grow 26% YOY

EghtesadOnline: During the calendar month to June 22, total deposits with banks and credit institutions reached 21,765 trillion rials ($190.09 billion), up 26.6% year-on-year.
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Publish Date:02/October/2019 | 11:41

Banks to Dispose Spare Assets Worth $5.6 Billion

EghtesadOnline: Banks are set to dispose of assets to the tune of 600 trillion rials ($5.6 billion) by the end of the fiscal year (March 2020), a deputy minister of economy told a press conference on Monday.
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Publish Date:01/October/2019 | 24:02

Iran Tax Office: Banks Obliged to Report Financial Statements of Clients

EghtesadOnline: To help bolster government efforts to modernize the ageing tax regime, banks have been ordered to send data on the financial transactions of tax payers to the Iranian National Tax Administration, head of INTA’s Tax Inspection Department said.
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Publish Date:28/September/2019 | 13:27

Central Bank of Iran Ties Lending to Rating Report

EghtesadOnline: In a directive to banks and credit institutions, the Central Bank of Iran has obliged borrowers to submit credit rating reports from relevant rating companies.
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Publish Date:25/September/2019 | 11:50