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EghtesadOnline: The total volume of term deposits in the Iranian banking system reached 9,605.5 trillion rials ($251.78 billion) by the end of the third quarter of the Iranian fiscal year (December 20), marking an annual growth of 27.1%.

The Central Bank of Iran on Thursday published data related to the banking sector for the ninth month of the fiscal year, which revealed that banks attracted 1,418.2 trillion rials ($37.17 billion) in term deposits during the period to register a 17.3% growth.

Lenders attracted 192.4 trillion rials ($5.043 billion) during the ninth month.








Short-term deposits amounted to 4,876.5 trillion rials ($127.82 billion) or 51% of the total term deposits by the end of the third quarter. However, CBI data show growth in long-term deposits was significantly higher than short-term deposits in the past 12 months, according to Financial Tribune. 

Long-term deposits experienced a 36% growth compared with the month ending December 20, 2015, whereas the volume of short-term deposits grew by 19.4%. The growth was 27.8% for long-term deposits and 8.7% for short-term deposits in the nine months to December 20.

CBI data also show that the total volume of Qarzol-Hassaneh (interest-free) deposits grew by 34.8% year-on-year.

Money supply also reached 11,848.6 trillion rials ($310.5 billion) by the end of the third quarter, marking a 28.1% growth compared with the previous year.

The private sector deposited 11,520.9 trillion rials ($301.9 billion) with the banking sector, 28.7% higher than the amount in the last year. \

According to CBI, private banks accounted for 72% of private-sector deposits. 

Three state-run commercial banks (Bank Melli Iran, Bank Sepah and Post Bank Iran) accounted for 18% of private-sector deposits, while the remaining 10% was put in five state-owned specialized banks.

CBI data also show that three state-owned commercial banks recorded a 34.2% growth in the volume of term deposits compared with the month ending December 20, 2015. The growth was 22.1% for specialized banks and 26.2% for private banks and credit institutions.

Banks’ debts to the CBI amounted to 1,047.9 trillion rials ($27.46 billion), jumping by 25.3% during the nine months to December 20. Specialized banks’ debts to the CBI grew by 2% during this period, whereas private lenders’ debts to CBI grew by 109.7%.

Government debts to banks reached 1,483.5 trillion rials ($38.84 billion) by the end of the third quarter of the current fiscal year, increasing by 21.8% since the beginning of the year. The government owes 64.4% of the amount to private lenders.

Iran Banking Iran banks Iran bank deposits Iran Term Deposits