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.
EghtesadOnline: The government is piling pressure on banks to put an end to their non-bank businesses by getting rid of surplus assets. The push appears to gain momentum in recent weeks as the Ministry of Economy and Finance last weekend unveiled an online auction system for this purpose.
EghtesadOnline: Banks have significantly cut borrowing from the Central Bank of Iran as the numbers declined more than 40% compared to the same period last year, the CBI governor said.
EghtesadOnline: Economy Minister Farhad Dejpasand unveiled an online system that tracks surplus assets owned by banks and credit institutions.
EghtesadOnline: The Central Bank of Iran, as part of a plan called "Productive Working Capital" has assigned a number of banks to lend 1,000 trillion rials ($8.3 billion) to productive businesses in the agriculture, housing and construction, industries and mining, petroleum and tourism sectors.
EghtesadOnline: More than 22,630.7 trillion rials ($191 billion) in deposits were held by banks and credit institutions during the month to August 22, according to a Central Bank of Iran report.
EghtesadOnline: Data from the Central Bank of Iran shows lenders are working to cut extra and unwanted branches over the past two quarters.
EghtesadOnline: There are more than 22,000 bank branches in Iran, about half of which are not needed, a deputy minister of economy said on Sunday.
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.
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.