Iranian banks’ assets are predicted to have a 20 percent rise by the end of 2015, totaling 2,670 trillion rials (about $81 billion), Business Monitor said in a recent report.
According to the report, although Iranian banks were under western economic sanctions, a 40 percent asset growth was fulfilled. Iranian banks' total assets were estimated to be approximately $301 billion and $403 billion in 2013 and 2014, respectively, the Tasnim news agency reported on Tuesday.
Furthermore, granted loans by Iranian banks amounted to approximately $153.93 billion in 2014 and the loans were up 19% in 2014, hitting $183.33 billion.
In regards to deposit attraction by Iranian banks, 22 percent growth has been predicted, amounting to approximately $219.09 billion, the report reveals. The amount had been allegedly about $179.39 billion in 2014.
Business Monitor has predicted a 21 percent asset growth in 2016 for Iranian banks, amounting to $586.06 billion.
President Hassan Rouhani has ordered fundamental changes in Iran’s banking system, first Vice President Es’haq Jahangiri said on Tuesday.
He said the changes are aimed at helping the private sector and investment, ISNA reported.
“Banks have to aid the private sector. Mr. President told me to set some time to work something out about the banking system, because this area is afflicted with many problems,” he said.