Gov't Debt to Private Banks Rises 9 Percent
EghtesadOnline: Back in June, Central Bank of Iran Governor Ali Salehabadi said the government was trying to come up with a “sustainable way” to settle its debts to privatized banks.
The government's debt to four private banks jumped 9% in the first half of the current fiscal year that started in late March.
Electronic Banking journal reviewed the financial statements of the four banks that showed government debt to Tejarat Bank, Bank Mellat, Bank Saderat and Refah Bank collectively amounted to 1,520 trillion rials ($4.28 billion).
Tejarat Bank topped the list with 656 trillion rials ($1.84 billion), followed by Bank Saderat with 602 trillion rials ($1.69 billion). Government's debt to Tejarat and Saderat increased by 8.8% and 9.8%, respectively, in the six months.
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