270 thousand billion tomans of overdue receivables of the banking system
The Director General of the Banking Affairs Office of the Ministry of Economy announced;
According to monetary news, Ghorban Eskandari, Director General of the Banking and Insurance Office of the Ministry of Economy, in a meeting to review the publication of the names of bank debtors; Challenges and opportunities stated: The total non-current receivables of the banking network is 270 thousand billion Tomans and the total assets of the banking network is 7,600 thousand billion Tomans, which is the result of dividing these two numbers by 3.5 percent.
He continued: The non-governmental facilities of banks are 3,400,000 billion Tomans (45% of the assets of the banking network) and the non-current facilities are 270,000 billion Tomans and other assets of the banking network are 1,800,000 billion Tomans, which is 23% of the public sector debt to the banking system. 430 thousand billion tomans and 5.5 percent of the total assets of banks.
The director general of the Banking and Insurance Office of the Ministry of Economy said: the total of the mentioned figures is 74% of the total assets of the banks, while the total liquidity is 4600 to 4.700 thousand billion Tomans.
Asked how the loss-making firm creates liquidity, the official added: “The cycle of destroying the banking system is broken and the reason for this liquidity creation in the current situation and the existing structure is that 11 to 13 percent liquidity growth is the result of the current situation.” It should be examined how the remaining 30 to 33% is created.
He stressed: We must answer the question that for economic growth of 1 to 2 percent that we have in the country, if we need 10 percent of liquidity? And why not take action to create this amount of liquidity?
Eskandari continued: “In this situation, why are non-current receivables created and some managers of the banking system are willing to pay receivables that they know have no return.”
Regarding the reason for creating a bank debtor, the director general of the Banking and Insurance Office of the Ministry of Economy said: “Debt deferral of facility borrowers is the most important reason for creating bank debtors.”
He said: “If the bank interest rate increases, production will not lose, because with the increase of interbank interest rates, the demand for facilities will decrease, and as a result, the pressure on bank resources will decrease, and with less pressure on bank resources, liquidity will not be created.” Had.
According to Eskandi, the reason for the bank debtors is to encourage people not to repay the facilities in such a way that instead of punishing the debtors, they are often given the opportunity to pay their debts.
Eskandari emphasized: the borrowers’ facilities should be validated so that there is no problem in repaying the facilities by the borrowers.
He stated that another reason for the creation of bank debtors was the currency and economic shock in the market and said: the producer receives foreign exchange facilities while he has income in Rials and can no longer repay it with currency fluctuations.
The official said: “Last year, we had a one thousand thousand billion toman increase in facilities, in return for which a one thousand thousand billion toman increase in deposits occurred, so money was not created.”
The Director General of the Banking and Insurance Office of the Ministry of Economy stated two strategies to prevent the creation of bank debtors and said: budget reform and oil withdrawal from the annual budget and identifying conflicts of interest in the banking system are effective in creating bank debtors.