According to the latest quarterly review by the Bank of International Settlement (BIS), Iran's assets with reporting banks rose by two billion dollars to dlrs 19.7 bn during the first six months of this year.
However, in the same period, the country's liabilities grew faster, increasing from dlrs 14.7 bn to dlrs 17.9 bn. Since December 2002, liabilities have increased by over dlrs 7 bn compared with a rise of dlrs 3.6 bn in assets.
BIS figures reveal that the greatest growth in Iran's liabilities has been with the non-bank sector, which has doubled from dlrs 3.2 bn at the end of 2002 to dlrs 6.4 bn at the end of June this year.
The quarterly review also shows a fairly even distribution in the maturity of the claims between up to one year and over two years. The bulk of Iran's liabilities are with reporting banks based in France (dlrs 4.2 bn), Germany (dlrs 2.6 bn) and Italy (dlrs 1.1 bn).
Separate figures from the Bank of England reveal that Iran's assets with British-based banks have overtaken the country's deposits this year.
Compared with a year earlier, Iran's assets with UK banks only rose from dlrs 4.4 bn to dlrs 4.5 bn at the end of September 2004, while claims increased from dlrs 3.1 bn to dlrs 5.1 bn.
The figures contrast with Iran's maintaining a surplus with western banks in recent years, which reached dlrs 5.6 bn in September 2002, when assets were recorded by BIS at dlrs 15 bn and outstanding claims at dlrs 9.4 bn.
... Payvand News - 12/7/04 ... --