Tuesday, January 22, 2019  
Banks sold more than 15 trillion tomans of surplus assets over the past year

Tuesday, Dec 05, 2017

According to the presidents emphasis, banks must give up their surplus assets, including real estate and corporations, and this is a legal obligation, Karbassian said.

(SHADA: TEHRAN) -- The banks should not hold their liquidity in their assets, but the liquidity should be in the hands of the cycle of economics and production as well as the capital market, the finance minister said in a special news conference.

Referring to the actions taken by the President regarding the sale of banks’ surplus assets, Karbassian said the banks provided planning and performance reports on this issue.

In the past year, based on the statistics provided by the banks on the sale of their assets, so far, 15 trillion tomans have been generated from this source, which is not an appropriate figure, he added.

Karbasian stated that a committee consisting of an auditor, the Ministry of Economy, and the Central Bank has been set up for this purpose, adding: Melli Bank, Tejarat Bank and Sepah Bank reported on the sale of their surplus assets, while the rest of the banks are also taking action.

The Minister of Economic Affairs and Finance further said that according to the Central Bank, the profit rate of the banking facilities fell to 18.5 percent, while the figure was already 30 percent.

Referring to the fact that the law on the reform of the banking system was presented to the parliament in early September this year, Karbassian added: At the same time, two drafts in the Parliament are on the agenda.

We usually have a leap in the last two months of the Gregorian year, but it is estimated that after Dey (February 2018), the price of the currency will decrease, he said, adding that the central bank announced the annual growth rate of 1.8% for foreign currencies.

Referring to the fact that the Minister of Economic Affairs and Finance protects the national currency, he stressed: The government will not seek to increase the exchange rate at all and we will manage it.


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