BAKU, Azerbaijan, April 9. Foreign assets of Iranian banks and financial institutions increased by 35.8 percent at the end of the 10th month of the last Iranian year (January 20, 2024) compared to the end of the same month of the previous year (January 20, 2023), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, the value of foreign assets of Iranian banks and financial institutions amounted to 22.9 quadrillion rials (about $546 billion) at the end of the 10th month of the last Iranian year. At the end of the same month of the previous year, the figure was about 16.9 quadrillion rials (about $402 billion).
Statistics indicate that at the end of the 10th month, the total (domestic and foreign) assets of Iranian banks and financial institutions amounted to about 135 quadrillion rials (about $3.2 trillion). At the end of the 10th month, the total assets of Iranian banks and financial institutions increased by 35.1 percent compared to the end of the same month of the previous year. At the end of the same month of the previous year, the total assets of Iranian banks and financial institutions amounted to 99.7 quadrillion rials (about $2.37 billion).
To note, in 2018, when the U.S. imposed sanctions on Iran over the country's nuclear program and expanded sanctions, Iran was withdrawn from the SWIFT system.
Iran's withdrawal from this system created serious problems for the country's work with global banks. It has caused Iranian banks' branches and assets in many countries to go virtually out of business.
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