2% decrease in the interest rate of facilities for cooperatives – Mehr News Agency | Iran and world’s news
According to Mehr News Agency, quoted by the Ministry of Cooperation, Labor and Social Welfare, Mohammad Sheikh Hosseini, CEO of Cooperative Bank, said: By announcing the general policies of Article 44 of the Constitution, Cooperative Development Bank is obliged to strengthen and promote the cooperative sector in the national economy. The performance of the bank in the last 14 years shows that more than two-thirds of the facilities paid to the cooperative sector were expensive.
He added: The Cooperative Development Bank is obliged to allocate 70% of its loan portfolio to the cooperative sector, and the bank’s financial statements show that this ratio has been met. The bank’s payment facilities in 1401 have enjoyed a 47% growth compared to the previous year, and the balance of the facilities at the end of 1401 has experienced a 37% growth compared to the end of the previous year.
Sheikh Hosseini continued: 15% of the bank’s payment facilities were in the agricultural sector, 37% in the industry and mining sector, 9% in the construction and housing sector, 32% in the service sector and 7% in the commercial sector.
He stated: The growth of expenses and resources of Cooperative Bank in 1401 was higher than the average of the banking network. Also, during the first quarter of this year, this bank has achieved a growth of 9% in the index of granted facilities compared to the same period last year, and the balance of expenses at the end of June 1402 has grown by 32% compared to the same period of the previous year.
Sheikh Hosseini reminded: the balance of the bank’s resources at the end of the first quarter of this year has grown by 41% compared to the same period last year, and the ratio of expenses to resources has been managed at the level of 95% with the efforts and efforts of the bank’s managers. It is justified to pay attention to the many tasks and the development approach of the bank.
This banking official said: Last year’s performance shows that there has been 180% growth in the issuance of guarantees and 198% in the issuance of domestic letters of credit, and in the first quarter of this year there has been a 75% growth in the issuance of guarantees and a 414% growth in the issuance of domestic letters of credit. compared to the first quarter of the previous year.
He continued: Last year, the capital of the Cooperative Bank has increased from 28 thousand billion Rials to 62 thousand billion Rials, which is an increase of more than 120% and has led to the improvement and proper growth of the bank’s capital adequacy ratio.
The managing director of Tehseh Tehsaf Cooperative Bank said: Tehseh Tehsaf Tehsaf Bank has paid 98% of the allocated quota for the facilities of Clause A of Note 18 last year, and in the payment of support facilities, relief committee, welfare organization, youth marriage, having childrenyouth marriage, domestic jobs, sustainable rural and nomadic employment, jump in housing production and guaranteed purchase of wheat have also achieved 96% performance.
According to him, the Cooperative Development Bank in the loan facility for marriage record breaking has done. The quota of the bank in 1401 was paid in 100% and the allocated quota for this year is 20 thousand billion Rials, and the branches of the Cooperative Development Bank in the first quarter of this year have fulfilled 160% of the facility payment plan and the notified obligation in this section.
Sheikh Hosseini reminded: In line with the development tasks last year, more than 9,500 billion Rials of facilities were paid to home businesses, which is equivalent to 95% of the allocated quota, and this figure will face an increase in performance this year.