Bank Sina’s effective action in reducing doubtful receivables

Mojtaba Dehqandar added, according to the financial news report, Sina Bank has been able to increase the share of its doubtful receivables to 33% of the total non-current receivables by the end of July this year by adopting appropriate policies and targeted planning and continuous control of programs.

He pointed out that this bank has experienced a negative growth of 32% in the receivables collection index, with a decrease of one thousand and 702 billion Rials in doubtful receivables.

According to Sina Bank’s legal and receivables vice president, the share of doubtful receivables from the total non-current receivables of this bank was 65% until the end of last year, which decreased to 33% at the end of July this year, and based on this, Sina Bank was freed by relying on financial resources. He has been able to pay more facilities and provide the opportunity for a larger number of customers to benefit from the loan facilities and public services.

He stated: Doubtful collection claims include all the principal and interest of facilities that have passed more than 18 months from the due date or the date of termination of payment of their installments and the customer has not yet tried to repay his debt.

Dehqandar also clarified: the ratio of Bank Sina’s claims to facilities (credit risk rate) at the end of 1400 was equal to 2.5%.