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Overseas Expansion of Banks Underscored

EghtesadOnline: The importance of Iranian banks’ foreign branches is not negligible, therefore their number ought to increase in order to provide better services to Iranian traders, the head of Iran’s Monetary and Banking Research Institute announced.
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Publish Date:10/May/2017 | 07:58

Iranian Banks to Decide Rates Next Month

EghtesadOnline: When major players of the Iranian banking system next convene in the foreseeable future, addressing the oft-visited dilemma of interest rates will be on top of their agenda, the head of the Association of Private Banks and Credit Institutions announced.
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Publish Date:09/May/2017 | 07:29

Bank Mellat to Open Georgia Branch by Sept.

EghtesadOnline: Mellat Bank Yerevan, a subsidiary of Iran’s Bank Mellat, will open a new branch in Georgia by the end of the first half of the current Iranian year (Sept. 22), said Bank Mellat’s chief executive.
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Publish Date:08/May/2017 | 10:50

Bank Melli Iran’s NPL Ratio at 7.7%

EghtesadOnline: Bank Melli Iran's ratio of non-performing loans to total loans currently stands at 7.7%, about 3% lower than the average ratio for the domestic banking system, announced the chief executive of the largest Iranian bank.
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Publish Date:08/May/2017 | 10:49

Two Iranian Banks Opening Munich Branch

EghtesadOnline: Two Iranian private banks are to open branches in Munich, the capital of the German state of Bavaria, which will greatly enhance the prospect of Iran-German financial interactions, the deputy economy minister for economic affairs and media, energy and technology announced.
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Publish Date:03/May/2017 | 08:01

Iranian-European banks to establish long-term ties soon

EghtesadOnline: Long-term relations between Iranian and European banks are expected to develop especially in financing civil engineering and production projects, Governor of Central Bank of Iran (CBI) Valiollah Seif announced.
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Publish Date:29/April/2017 | 15:09

Forex Transactions of Bank Melli Reach €10b

EghtesadOnline: Bank Melli Iran has recorded a good year in its international dealings with the volume of foreign exchange transactions reaching "about €10 billion" during the previous fiscal year that ended on March 20, BMI's deputy for foreign exchange and international affairs said.
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Publish Date:29/April/2017 | 10:17

BMI to Open Najaf Branch

EghtesadOnline: In line with Bank Melli Iran's activities in Iraq, the bank is going to open a branch in the shrine city of Najaf in the near future while starting a branch in Karbala is also on its agenda, said the CEO of BMI.
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Publish Date:26/April/2017 | 08:48

30 Percent Leap in Bank Loans

EghtesadOnline: Iranian banks allocated 5,484 trillion rials ($146.2 billion) to various sectors during the fiscal year that ended on March 20, 2017, registering a growth of 1,310 trillion rials ($35 billion) or 31.4% compared to the previous year.
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Publish Date:23/April/2017 | 09:33

$1.4b in Debt Penalty Waiver

EghtesadOnline: By the end of the previous Iranian year (ended March 20), about 22,500 billion rials ($0.6 billion) were allocated to the banking system to waive late payment penalties and they will receive a further 54 trillion rials ($1.4 billion) in the current year for the same purpose, said the Central Bank of Iran's vice governor.
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Publish Date:19/April/2017 | 10:28

Banks Refocusing on Production, Employment

EghtesadOnline: The Iranian banking system will focus on increasing production and improving employment in the current fiscal year in line with the guidelines provided by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.
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Publish Date:10/April/2017 | 10:51

Iranian Government Reduces Bank Arrears by $3.5b

EghtesadOnline: The government has cleared 132 trillion rials ($3.5 billion) of its arrears to the banking system while increasing its capital to public-sector banks by 242 trillion rials ($6.4 billion) , said the government spokesman.
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Publish Date:06/April/2017 | 18:00

Rumors of Banks’ Bankruptcy Rejected

EghtesadOnline: Contrary to recent reports, Iranian banks have not gone bust but are in fact mired in faulty regulations, the secretary-general of the Private Banks and Credit Institutions Association said.
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Publish Date:06/April/2017 | 17:59

Tejarat Relisting Challenge Denied

EghtesadOnline: The General Court of the European Union has dismissed Tejarat Bank’s challenge to an EU decision to relist it back in 2015.
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Publish Date:03/April/2017 | 09:15

Iranian Lenders Hobbled by Big Bank Qualms

EghtesadOnline: Iran's banking network has historically had a robust presence in Europe, offering services to Iranian merchants and facilitating trade transactions between the European Union and resource-rich Iran.
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Publish Date:19/March/2017 | 11:07

Directed Credit Schemes Face Prosecution

EghtesadOnline: The Tehran prosecutor general has spoken out against directed credit schemes by banks, stressing that loan allocation violations must be reviewed by the experts.
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Publish Date:13/March/2017 | 05:51

Bank Sepah int'l branch in London resumes activity in post-JCPOA

EghtesadOnline: Bank Sepah international London-based branch alongside the other European branches have started to render banking services in the international scene, especially to the Iranian companies and projects after the implementation of the Joint Comprehensive Plan of Action (JCPOA).
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Publish Date:09/March/2017 | 16:48

Penalties Account for 50% of Banks’ Income

EghtesadOnline: More than 50% of many banks’ income are generated through penalty fees while this way of allocating loans will amount to a compound interest, said a member of Iran Chamber of Commerce, Industries, Mines and Agriculture.
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Publish Date:07/March/2017 | 13:22

No Bank Facilities for Non-Transparent Firms

EghtesadOnline: Banks and credit institutions have been ordered not to extend any kind of banking services to businesses that have not presented their balance sheets, announced the head of Majlis Economic Commission.
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Publish Date:26/February/2017 | 24:34