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Merging Process of Military Banks Making Progress

EghtesadOnline: The plan to merge five military-affiliated banks and credit institutions has entered the next phase after majority ownership of the merging entities was transferred to state-run Bank Sepah, CEO of the bank said.
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Publish Date:08/September/2019 | 24:19

Banks in Iran Record Double Digit Growth in Deposits

EghtesadOnline: Total deposits with Iranian banks and credit institutions stood at 21,311.2 trillion rials ($190.27 billion) at the end of the second calendar month to May 21, according to a report by the Central Bank of Iran.
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Publish Date:27/August/2019 | 10:17

Military Banks Merger in Progress

EghtesadOnline: The merger of five banks and credit institutions -- affiliated to military forces – with the state-owned Bank Sepah is in progress with the major tasks completed, CEO of the bank said.
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Publish Date:06/August/2019 | 24:26

Central Bank of Iran Reports Growth in Deposits, Loans

EghtesadOnline: A report on loans made by and deposits with banks and credit institutions says total deposits stood at 20,825 trillion rials ($173 billion) at the end of the first calendar month to April 20.
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Publish Date:23/July/2019 | 09:52

Banks to Help Lift Iran's Housing Industry

EghtesadOnline: As home prices continue to rise, the housing sector has resorted to banks to help restore the ailing industry hit by stagflation.
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Publish Date:13/July/2019 | 11:45

Iran: Bank Deposits Rise 25%

EghtesadOnline: The latest data on deposits with banks and credit institutions indicate that total deposits stood at 20,673 trillion rials ($159 billion) by the end of the previous fiscal year’s last month (March 20, 2019).
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Publish Date:01/July/2019 | 11:01

Central Bank of Iran Says Bank Deposits Growing

EghtesadOnline: Deposits in Iranian banks and credit institutions totaled 20,223 trillion rials ($155 billion) during the eleven-months to Feb 19, up 32% compared to the same period a year ago.
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Publish Date:16/June/2019 | 11:43

96 Million Bank Cards Active in 1 Month

EghtesadOnline: Out of 340.6 million cards issued by banks more than 96.9 million, including debit cards, credit cards and gift cards, conducted at least one transaction during the first month (March 21-April 20) of the current fiscal year.
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Publish Date:08/June/2019 | 11:32

OTP Not Mandatory For Minor Transactions

EghtesadOnline: The Central Bank of Iran published a note on its website to clarify ambiguities about the one-time password that will soon be offered by banks.
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Publish Date:13/May/2019 | 13:53

Iran's Bank Branch Closures Continue

EghtesadOnline: Banks and credit institutions continue to reduce their local branches in the past three months, although the overall cuts are not significant, IBENA reported.
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Publish Date:04/May/2019 | 13:00

Majlis: Compound Interest Is a Problem

EghtesadOnline: The Majlis has asked the government to eliminate the policy of compound interest rates in banks to help promote domestic production, and the Rouhani administration is expected to inform lawmakers about what it thinks of the prospect.
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Publish Date:17/April/2019 | 14:30

Properties of Banks Sold for $770m

EghtesadOnline: The Deputy for Banking and Insurance Affairs at the Economy Ministry said during the one year between December 2018-19, 100 trillion rials ($770 million) worth of excess property of banks was divested.
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Publish Date:12/March/2019 | 14:57

5 Armed Forces-Linked Banks to Merge

EghtesadOnline: The Central Bank of Iran said Saturday that plans for merging five banks and credit institutions affiliated to armed forces with the state-owned Bank Sepah is in motion.
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Publish Date:03/March/2019 | 11:52

Banks Lend $42 Billion in 10 Months

EghtesadOnline: In the first ten months of the current fiscal to January 20, lenders granted 5,380 trillion rials ($ 42 billion) in loans, up 757 trillion rials ($6 billion) compared to the same period in the previous fiscal – a 16.4% growth.
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Publish Date:20/February/2019 | 13:29

Iranian Banks Need to Boost Capital: MRC

EghtesadOnline: The Majlis Research Center has called on the government and monetary regulators to boost the capital buffers of banks to help them cope with recession that observers predict will afflict the economy.
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Publish Date:28/January/2019 | 15:28

CBI Frets Over Debt of Non-Gov’t Banks

EghtesadOnline: The Central Bank of Iran in its latest report said debts of banks and credit institutions to the CBI totaled 1.5 quadrillion rials ($11.32 billion) in the calendar month September 22, up 37.3% year on year and 14.1% compared to the last yearend (March 21).
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Publish Date:21/November/2018 | 10:23

Iran's EGFI Expands Operations to Support Regional Trade

EghtesadOnline: As reimposed US sanctions restrict Iranian banks, the Export Guarantee Fund of Iran is set to expand operations to better support the country's exports, especially with regional partners.
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Publish Date:11/November/2018 | 10:24

Iran Banks to Use National Crytptocurrency

EghtesadOnline: Developed by the Informatics Services Corporation at the behest of the Central Bank of Iran, the banking system is planning to make use of a national cryptocurrency.
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Publish Date:10/November/2018 | 09:14

US Decision to Keep Iran in Swift Seen as a Compromise

EghtesadOnline: Sanctions on Iran’s banks, oil exports, ships and ports, lifted in 2015 as part of a nuclear weapons agreement that Trump abandoned in May, will be reimposed on Monday. But it is not clear whether those banks would be allowed to participate in the Society for Worldwide Interbank Financial Telecommunication, or Swift. That is the system that allows the world’s banks to communicate with one another, making global transactions possible.
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Publish Date:05/November/2018 | 10:09

Liquidity Trend Bodes Ill for Bank Lending

EghtesadOnline: A look at the balance sheets of Iranian banks and credit institutions shows that their capacity to create money and allocate credit has been significantly influenced by the current state of liquidity and is expected to drop.
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Publish Date:23/September/2018 | 05:47