The total value of Iranian banks’ foreign assets by August 22 stood at 2.54 quadrillion rials ($65.12 billion), marking an increase of 10.4% compared with the corresponding period of last year.
According to the latest data published by the Central Bank of Iran on Sunday detailing Iran’s economic indicators up to Aug. 22, private banks and non-bank credit institutions account for the biggest share of financial institutions' foreign assets at 1.56 quadrillion rials ($40 billion).
These institutions owned 61.4% of the total figure, showing a growth of 6.7% compared with the previous year's figures.
The five state-owned specialized banks also experienced a 17.9% surge in their foreign assets year-on-year to reach 610.4 trillion rials ($15.65 billion), accounting for 24% of the total sum.
The smallest share of foreign assets pertains to three commercial state-owned banks at 371.4 trillion rials ($9.5 billion), which account for the remaining 14.6% of banking system’s total foreign assets.
This is while the Central Bank of Iran’s foreign assets also experienced a slight year-on-year growth of 3.1%. The value of CBI’s foreign assets exceeds 3.5 quadrillion rials ($89.74 billion), which is significantly bigger than the collective value of all Iranian banks’ foreign assets