Balance of major monetary and credit aggregates at the end of Tir 1399

Growth rate at the end of the Share in growth at the end of the period Balance (trillion rials) period (percent) (percentage point)

Tir Tir Tir 1399 to Tir 1399 to Tir 1399 to Tir 1399 to 1398 1398 1399 Tir 1398 Esfand 1398 Tir 1398 Esfand 1398 Monetary base (sources) 2,774.3 3,528.5 3,628.6 30.8 2.8 30.8 2.8 CBI foreign assets (net) 2,376.3 3,475.7 3,679.0 54.8 5.8 46.9 5.8 CBI claims on public sector (net) 378.4 156.3 213.5 -43.6 36.6 -5.9 1.6 Monetary CBI claims on banks 1,314.8 1,106.9 1,112.2 -15.4 0.5 -7.3 0.2 Base CBI other items (net) -1,295.2 -1,210.4 -1,376.1 -6.2 -13.7 -2.9 -4.8 Monetary base (uses) 2,774.3 3,528.5 3,628.6 30.8 2.8 Notes and coins in circulation 624.0 701.4 699.0 12.0 -0.3 Deposits of banks and credit institutions with the CBI 2,150.3 2,827.1 2,929.6 36.2 3.6 Ratio of notes and coins with the public to total deposits 0.0254 0.0254 0.0217 -14.6 -14.6 Money Ratio of reserve requirement to total deposits 0.1058 0.1080 0.0971 -8.2 -10.1 Multiplier Ratio of excess reserves to total deposits 0.0094 0.0130 0.0165 75.5 26.9 Money multiplier 7.294 7.006 7.551 3.5 7.8 M2 and contribution of factors affecting M2 growth 20,237.0 24,721.5 27,397.8 35.4 10.8 35.4 10.8 Foreign assets (net) 3,238.8 4,632.3 5,111.9 57.8 10.4 9.3 1.9 Central Bank 2,376.3 3,475.7 3,679.0 54.8 5.8 6.5 0.8 Banks and credit institutions 862.5 1,156.6 1,432.9 66.1 23.9 2.8 1.1 Domestic assets (net) 16,998.2 20,089.2 22,285.9 31.1 10.9 26.1 8.9 Domestic claims 14,623.1 16,955.8 18,643.1 27.5 10.0 19.9 6.8 Claims on government (net) 2,373.3 2,386.7 2,852.0 20.2 19.5 2.4 1.8 Central Bank 202.0 -181.4 -73.0 -136.1 59.8 -1.4 0.4 Banks and credit institutions 2,171.3 2,568.1 2,925.0 34.7 13.9 3.8 1.4 Claims on public corporations and institutions (net) 230.4 406.3 392.2 70.2 -3.5 0.8 0.0 Central Bank 176.4 337.7 286.5 62.4 -15.2 0.5 -0.2 Banks and credit institutions 54.0 68.6 105.7 95.7 54.1 0.3 0.2 Claims on non-public sector 12,019.4 14,162.8 15,398.9 28.1 8.7 16.7 5.0 Other items (net) 2,375.1 3,133.4 3,642.8 53.4 16.3 6.2 2.1 M2 Share of determinants' balance in M2 balance (percent) M2 and its determinants 20,237.0 24,721.5 27,397.8 35.4 10.8 Esfand 1398 Tir 1399 M1 3,186.3 4,273.0 5,559.1 74.5 30.1 17.3 20.3 Notes and coins with the public 501.2 611.4 582.6 16.2 -4.7 2.5 2.1 Sight deposits 2,685.1 3,661.6 4,976.5 85.3 35.9 14.8 18.2 Quasi-money 17,050.7 20,448.5 21,838.7 28.1 6.8 82.7 79.7 Gharz-al-hasaneh savings deposits 1,070.9 1,448.1 1,611.2 50.5 11.3 5.9 5.9 Short-term deposits 6,103.9 7,081.1 7,946.6 30.2 12.2 28.6 29 One-year deposits 9,352.7 11,348.3 11,659.1 24.7 2.7 45.9 42.5 Two-year deposits 32.4 38.9 46.0 42.0 18.3 0.2 0.2 Three-year deposits 0.7 0.6 0.5 -28.6 -16.7 0 0 Four-year deposits 4.5 4.3 4.2 -6.7 -2.3 0 0 Five-year deposits 142.8 94.8 77.1 -46.0 -18.7 0.4 0.3 Miscellaneous deposits 342.8 432.4 494.0 44.1 14.2 1.7 1.8 CBI: Central Bank of the IRI. 1 Table 1 Summary of the Assets and Liabilities of the Banking System (trillion rials) Balance at the end of the Percentage change Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir to To to to 1397 1397 1398 1398 1399 Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 8,409.0 9,171.4 9,373.5 11,580.4 13,040.3 11.5 39.1 2.2 12.6 2 Claims on public sector 2,836.3 3,325.5 3,562.7 4,164.9 4,765.3 25.6 33.8 7.1 14.4 Government 2,513.3 3,041.3 3,273.8 3,697.1 4,306.7 30.3 31.6 7.6 16.5 Public corporations and institutions 323.0 284.2 288.9 467.8 458.6 -10.6 58.7 1.7 -2.0 3 Claims on non-public sector 11,271.8 13,126.1 13,791.1 16,220.2 17,603.4 22.4 27.6 5.1 8.5 Others 9,934.0 13,163.0 12,511.6 15,470.0 15,654.1 25.9 25.1 -4.9 1.2 Sub-total 32,451.1 38,786.0 39,238.9 47,435.5 51,063.1 20.9 30.1 1.2 7.6 Below the line items 4,596.1 4,748.7 5,668.3 6,767.9 7,504.3 23.3 32.4 19.4 10.9 Total assets = total liabilities 37,047.2 43,534.7 44,907.2 54,203.4 58,567.4 21.2 30.4 3.2 8.1 Liabilities M2 16,022.5 18,828.9 20,237.0 24,721.5 27,397.8 26.3 35.4 7.5 10.8 M1 2,149.1 2,852.3 3,186.3 4,273.0 5,559.1 48.3 74.5 11.7 30.1 Quasi-money 13,873.4 15,976.6 17,050.7 20,448.5 21,838.7 22.9 28.1 6.7 6.8 Loans and deposits of public sector 890.8 915.9 951.9 1,366.9 1,516.0 6.9 59.3 3.9 10.9 Government 850.7 861.8 900.5 1,310.4 1,454.7 5.9 61.5 4.5 11.0 Public corporations and institutions 40.1 54.1 51.4 56.5 61.3 28.2 19.3 -5.0 8.5 Capital account 390.0 489.2 32.0 -438.9 -373.3 -91.8 # -93.5 14.9 Foreign loans and credits and foreign exchange deposits 5,241.3 5,918.8 6,134.7 6,948.1 7,928.4 17.0 29.2 3.6 14.1 Imports order registration deposit by non-public sector 0.0 0.0 0.0 0.0 0.0 θ θ θ θ Advance payments on Letters of Credit by public sector 0.7 1.7 1.7 1.8 0.7 142.9 -58.8 0.0 -61.1 Others 9,905.8 12,631.5 11,881.6 14,836.1 14,593.5 19.9 22.8 -5.9 -1.6 Sub-total 32,451.1 38,786.0 39,238.9 47,435.5 51,063.1 20.9 30.1 1.2 7.6 Below the line items 4,596.1 4,748.7 5,668.3 6,767.9 7,504.3 23.3 32.4 19.4 10.9

1 Includes Central Bank, banks, and non-bank credit institutions while excludes commercial banks' branches abroad. Meanwhile, with reference to Letter No. 2958 dated 8, 1398 by the CBI's Vice-Governor for Banking Supervision Affairs and based on the Approvals by the Money and Credit Council and the Supreme Council of Economic Coordination (the Heads of the Legislative, Executive, and Judicial bodies), data related to Bank Hekmat Iranian have been included in Bank Sepah data as of 1399. 2 Includes public sector's participation papers. Figures related to banks' and credit institutions' claims on public sector are prepared based on the data kept in the general ledgers of banks and credit institutions and are not audited. 3 As of 1398, a sum of Rls. 454 trillion worth of facilities extended by Ayandeh Bank was transferred from "current claims" heading to "other assets" heading.  Calculation of percentage change is not possible.

# More than 500 percent increase.

Summary of the Assets and Liabilities of Central Bank Table 2 of the Islamic Republic of (trillion rials) Balance at the end of the month Percentage change Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir to To to to 1397 1397 1398 1398 1399 Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 4,672.3 4,651.3 4,539.7 5,364.6 5,536.5 -2.8 22.0 -2.4 3.2 Notes and coins 45.2 21.6 33.5 16.1 18.5 -25.9 -44.8 55.1 14.9 Claims on public sector 628.8 958.2 1,053.9 1,158.5 1,341.1 67.6 27.3 10.0 15.8 Government 353.5 731.2 826.1 764.3 993.3 133.7 20.2 13.0 30.0 Public corporations and institutions 275.3 227.0 227.8 394.2 347.8 -17.3 52.7 0.4 -11.8 Claims on banks 1,470.9 1,381.7 1,314.8 1,106.9 1,112.2 -10.6 -15.4 -4.8 0.5 1 Others 260.1 268.4 458.6 319.1 448.5 76.3 -2.2 70.9 40.6 Sub-total 7,077.3 7,281.2 7,400.5 7,965.2 8,456.8 4.6 14.3 1.6 6.2 Below the line items 21.4 28.9 21.3 28.1 21.1 -0.5 -0.9 -26.3 -24.9 Total assets = total liabilities 7,098.7 7,310.1 7,421.8 7,993.3 8,477.9 4.6 14.2 1.5 6.1 Liabilities Notes and coins 562.9 657.5 657.5 717.5 717.5 16.8 9.1 0.0 0.0 With the public 415.6 547.5 501.2 611.4 582.6 20.6 16.2 -8.5 -4.7 With banks 102.1 88.4 122.8 90.0 116.4 20.3 -5.2 38.9 29.3 With the Central Bank 45.2 21.6 33.5 16.1 18.5 -25.9 -44.8 55.1 14.9 Deposits of banks and credit institutions 1,684.5 2,021.0 2,150.3 2,827.1 2,929.6 27.7 36.2 6.4 3.6 Reserve requirement 1,633.4 1,948.0 2,087.2 2,604.7 2,603.5 27.8 24.7 7.1 0.0 2 Sight 51.1 73.0 63.1 222.4 326.1 23.5 416.8 -13.6 46.6 Deposits of public sector 605.3 666.2 675.5 1,002.2 1,127.6 11.6 66.9 1.4 12.5 Government 565.2 612.1 624.1 945.7 1,066.3 10.4 70.9 2.0 12.8 Public corporations and institutions 40.1 54.1 51.4 56.5 61.3 28.2 19.3 -5.0 8.5 3 Capital account 89.5 118.6 95.8 116.3 108.0 7.0 12.7 -19.2 -7.1 Foreign exchange liabilities 2,258.9 2,234.8 2,163.4 1,888.9 1,857.5 -4.2 -14.1 -3.2 -1.7 Imports order registration deposit by non-public sector 0.0 0.0 0.0 0.0 0.0 θ θ θ Θ Advance payments on Letters of Credit by public sector 0.7 1.7 1.7 1.8 0.7 142.9 -58.8 0.0 -61.1 Others 1,875.5 1,581.4 1,656.3 1,411.4 1,715.9 -11.7 3.6 4.7 21.6 Sub-total 7,077.3 7,281.2 7,400.5 7,965.2 8,456.8 4.6 14.3 1.6 6.2 Below the line items 21.4 28.9 21.3 28.1 21.1 -0.5 -0.9 -26.3 -24.9 1 The major reason behind the increase in the CBI’s other assets at end-Tir 1398 compared with the previous year-end has been the CBI’s payments for adjustments on tax liabilities and the government’s share in the CBI’s net profit for 1397. 2 Includes banks' foreign exchange sight deposits with the CBI. 3 Includes legal and contingency reserves.  Calculation of percentage change is not possible.

Summary of the Assets and Liabilities of Banks 1 Table 3 and Non-bank Credit Institutions (trillion rials) Balance at the end of the month Percentage change Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir to To to to 1397 1397 1398 1398 1399 Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 3,736.7 4,520.1 4,833.8 6,215.8 7,503.8 29.4 55.2 6.9 20.7 Notes and coins 102.1 88.4 122.8 90.0 116.4 20.3 -5.2 38.9 29.3 Deposits with the Central Bank 1,684.5 2,021.0 2,150.3 2,827.1 2,929.6 27.7 36.2 6.4 3.6 Reserve requirement 1,633.4 1,948.0 2,087.2 2,604.7 2,603.5 27.8 24.7 7.1 0.0 2 Sight 51.1 73.0 63.1 222.4 326.1 23.5 416.8 -13.6 46.6 3 Claims on public sector 2,207.5 2,367.3 2,508.8 3,006.4 3,424.2 13.6 36.5 6.0 13.9 Government 2,159.8 2,310.1 2,447.7 2,932.8 3,313.4 13.3 35.4 6.0 13.0 Public corporations and institutions 47.7 57.2 61.1 73.6 110.8 28.1 81.3 6.8 50.5 4 Claims on non-public sector 11,271.8 13,126.1 13,791.1 16,220.2 17,603.4 22.4 27.6 5.1 8.5 Others 6,371.2 9,381.9 8,431.6 11,110.8 11,028.9 32.3 30.8 -10.1 -0.7 Sub-total 25,373.8 31,504.8 31,838.4 39,470.3 42,606.3 25.5 33.8 1.1 7.9 Below the line items 4,574.7 4,719.8 5,647.0 6,739.8 7,483.2 23.4 32.5 19.6 11.0 Total assets = total liabilities 29,948.5 36,224.6 37,485.4 46,210.1 50,089.5 25.2 33.6 3.5 8.4 Liabilities Deposits of non-public sector 15,606.9 18,281.4 19,735.8 24,110.1 26,815.2 26.5 35.9 8.0 11.2 Sight 1,733.5 2,304.8 2,685.1 3,661.6 4,976.5 54.9 85.3 16.5 35.9 Term investment 12,816.4 14,646.0 15,637.0 18,568.0 19,733.5 22.0 26.2 6.8 6.3 5 Gharz-al-hasaneh 828.6 1,026.5 1,070.9 1,448.1 1,611.2 29.2 50.5 4.3 11.3 Other 228.4 304.1 342.8 432.4 494.0 50.1 44.1 12.7 14.2 Claims of the Central Bank 1,470.9 1,381.7 1,314.8 1,106.9 1,112.2 -10.6 -15.4 -4.8 0.5 6 Loans and deposits of public sector 285.5 249.7 276.4 364.7 388.4 -3.2 40.5 10.7 6.5 Capital account 300.5 370.6 -63.8 -555.2 -481.3 -121.2 # -117.2 13.3 Foreign exchange loans and deposits 2,982.4 3,684.0 3,971.3 5,059.2 6,070.9 33.2 52.9 7.8 20.0 Others 4,727.6 7,537.4 6,603.9 9,384.6 8,700.9 39.7 31.8 -12.4 -7.3 Sub-total 25,373.8 31,504.8 31,838.4 39,470.3 42,606.3 25.5 33.8 1.1 7.9 Below the line items 4,574.7 4,719.8 5,647.0 6,739.8 7,483.2 23.4 32.5 19.6 11.0 1 Excludes commercial banks' branches abroad. Meanwhile, with reference to Letter No. 2958 dated Farvardin 8, 1398 by the CBI's Vice-Governor for Banking Supervision Affairs and based on the Approvals by the Money and Credit Council and the Supreme Council of Economic Coordination (the Heads of the Legislative, Executive, and Judicial bodies), data related to Bank Hekmat Iranian have been included in Bank Sepah data as of Khordad 1399. 2 Includes banks' foreign exchange sight deposits with the CBI. 3 Includes public sector's participation papers. Figures related to banks' and credit institutions' claims on public sector are prepared based on the data kept in the general ledgers of banks and credit institutions and are not audited. 4 As of Mordad 1398, a sum of Rls. 454 trillion worth of facilities extended by Ayandeh Bank was transferred from "current claims" heading to "other assets" heading. 5 Since Gharz-al-hasaneh deposits include the Gharz-al-hasaneh deposits of Housing Bank for housing mortgage loans related to housing deposit contracts and part of banks' Gharz-al-hasaneh deposits is assigned for reserve requirements and other purposes, therefore the Gharz-al-hasaneh deposit uses should be assessed and judged after deduction of these special uses. 6 OSF deposit balances and local currency (rial) deposits of NDFI constitute a large proportion of government deposits in the banking system.

# More than 500 percent increase.

1 Table 4 Summary of the Assets and Liabilities of Commercial Banks (trillion rials) Balance at the end of the month Percentage change Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir to To to to 1397 1397 1398 1398 1399 Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 567.5 573.4 513.8 769.9 1,153.2 -9.5 124.4 -10.4 49.8 Notes and coins 39.8 26.0 51.2 26.6 45.2 28.6 -11.7 96.9 69.9 Deposits with the Central Bank 353.9 439.1 446.9 555.5 530.7 26.3 18.8 1.8 -4.5 Reserve requirement 320.5 410.7 420.5 527.5 497.3 31.2 18.3 2.4 -5.7 2 Sight 33.4 28.4 26.4 28.0 33.4 -21.0 26.5 -7.0 19.3 3 Claims on public sector 598.8 691.6 715.2 858.4 968.6 19.4 35.4 3.4 12.8 Government 574.4 650.1 682.4 814.4 902.5 18.8 32.3 5.0 10.8 Public corporations and institutions 24.4 41.5 32.8 44.0 66.1 34.4 101.5 -21.0 50.2 Claims on non-public sector 1,828.6 2,167.4 2,284.7 2,752.9 2,954.4 24.9 29.3 5.4 7.3 Others 1,133.7 1,922.6 1,530.0 2,404.3 2,039.9 35.0 33.3 -20.4 -15.2 Sub-total 4,522.3 5,820.1 5,541.8 7,367.6 7,692.0 22.5 38.8 -4.8 4.4 Below the line items 535.8 497.8 504.0 646.3 707.9 -5.9 40.5 1.2 9.5 Total assets = total liabilities 5,058.1 6,317.9 6,045.8 8,013.9 8,399.9 19.5 38.9 -4.3 4.8 Liabilities Deposits of non-public sector 3,159.1 3,789.5 4,064.5 4,775.6 5,338.5 28.7 31.3 7.3 11.8 Sight 428.3 514.1 585.0 758.6 1,020.8 36.6 74.5 13.8 34.6 Term investment 2,475.0 2,938.8 3,127.9 3,537.3 3,763.4 26.4 20.3 6.4 6.4 Gharz-al-hasaneh 188.5 255.2 267.2 360.6 410.4 41.8 53.6 4.7 13.8 Other 67.3 81.4 84.4 119.1 143.9 25.4 70.5 3.7 20.8 Claims of the Central Bank 46.2 29.2 44.2 43.4 108.7 -4.3 145.9 51.4 150.5 4 Loans and deposits of public sector 109.1 96.2 90.3 141.1 137.7 -17.2 52.5 -6.1 -2.4 Capital account 22.6 -25.1 -110.0 -19.2 -208.7 # -89.7 -338.2 # Foreign exchange loans and deposits 439.2 446.0 433.7 685.2 1,098.6 -1.3 153.3 -2.8 60.3 Others 746.1 1,484.3 1,019.1 1,741.5 1,217.2 36.6 19.4 -31.3 -30.1 Sub-total 4,522.3 5,820.1 5,541.8 7,367.6 7,692.0 22.5 38.8 -4.8 4.4 Below the line items 535.8 497.8 504.0 646.3 707.9 -5.9 40.5 1.2 9.5

1 Excludes commercial banks' branches abroad. 2 Includes commercial banks' foreign exchange sight deposits with the CBI. 3 Includes public sector's participation papers. Figures related to banks' and credit institutions' claims on public sector are prepared based on the data kept in the general ledgers of banks and credit institutions and are not audited. 4 OSF deposit balances and local currency (rial) deposits of NDFI constitute a large proportion of government deposits in the banking system.

# More than 500 percent increase.

Table 5 Summary of the Assets and Liabilities of Specialized Banks (trillion rials) Balance at the end of the month Percentage change Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir to To to to 1397 1397 1398 1398 1399 Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 906.8 1,113.4 1,522.7 1,839.8 2,043.7 67.9 34.2 36.8 11.1 Notes and coins 9.9 11.8 11.2 11.2 11.4 13.1 1.8 -5.1 1.8 Deposits with the Central Bank 122.3 138.5 150.0 183.6 217.7 22.6 45.1 8.3 18.6 Reserve requirement 120.4 131.3 145.2 173.9 207.0 20.6 42.6 10.6 19.0 1 Sight 1.9 7.2 4.8 9.7 10.7 152.6 122.9 -33.3 10.3 2 Claims on public sector 561.7 584.9 611.4 657.3 533.5 8.8 -12.7 4.5 -18.8 Government 559.3 581.0 607.7 652.2 526.2 8.7 -13.4 4.6 -19.3 Public corporations and institutions 2.4 3.9 3.7 5.1 7.3 54.2 97.3 -5.1 43.1 Claims on non-public sector 2,461.0 2,732.7 2,816.5 3,210.5 3,385.4 14.4 20.2 3.1 5.4 Others 522.7 690.7 585.3 780.6 723.9 12.0 23.7 -15.3 -7.3 Sub-total 4,584.4 5,272.0 5,697.1 6,683.0 6,915.6 24.3 21.4 8.1 3.5 Below the line items 1,012.2 954.3 1,441.4 1,550.5 1,742.4 42.4 20.9 51.0 12.4 Total assets = total liabilities 5,596.6 6,226.3 7,138.5 8,233.5 8,658.0 27.6 21.3 14.7 5.2 Liabilities Deposits of non-public sector 1,670.8 1,880.7 1,982.4 2,325.6 2,617.5 18.6 32.0 5.4 12.6 Sight 180.5 244.9 276.2 351.3 445.6 53.0 61.3 12.8 26.8 Term investment 1,301.4 1,438.6 1,503.2 1,757.8 1,938.1 15.5 28.9 4.5 10.3 3 Gharz-al-hasaneh 173.9 179.7 181.3 193.8 207.7 4.3 14.6 0.9 7.2 Other 15.0 17.5 21.7 22.7 26.1 44.7 20.3 24.0 15.0 Claims of the Central Bank 455.4 477.7 476.4 470.6 470.9 4.6 -1.2 -0.3 0.1 4 Loans and deposits of public sector 123.6 112.1 139.1 166.1 191.3 12.5 37.5 24.1 15.2 Capital account 283.4 256.7 509.7 215.6 412.1 79.9 -19.1 98.6 91.1 Foreign exchange loans and deposits 690.5 866.6 1,197.9 1,401.8 1,545.1 73.5 29.0 38.2 10.2 Others 1,360.7 1,678.2 1,391.6 2,103.3 1,678.7 2.3 20.6 -17.1 -20.2 Sub-total 4,584.4 5,272.0 5,697.1 6,683.0 6,915.6 24.3 21.4 8.1 3.5 Below the line items 1,012.2 954.3 1,441.4 1,550.5 1,742.4 42.4 20.9 51.0 12.4

1 Includes specialized banks' foreign exchange sight deposits with the CBI. 2 Includes public sector's participation papers. Figures related to banks' and credit institutions' claims on public sector are prepared based on the data kept in the general ledgers of banks and credit institutions and are not audited. 3 Since Gharz-al-hasaneh deposits include the Gharz-al-hasaneh deposits of Housing Bank for housing mortgage loans related to housing deposit contracts and part of banks' Gharz-al-hasaneh deposits is assigned for reserve requirements and other purposes, therefore the Gharz-al-hasaneh deposit uses should be assessed and judged after deduction of these special uses. 4 OSF deposit balances and local currency (rial) deposits of NDFI constitute a large proportion of government deposits in the banking system.

Summary of the Assets and Liabilities of Private Banks 1 Table 6 and Non-bank Credit Institutions (trillion rials) Balance at the end of the month Percentage change Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir to To to to 1397 1397 1398 1398 1399 Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 2,262.4 2,833.3 2,797.3 3,606.1 4,306.9 23.6 54.0 -1.3 19.4 Notes and coins 52.4 50.6 60.4 52.2 59.8 15.3 -1.0 19.4 14.6 Deposits with the Central Bank 1,208.3 1,443.4 1,553.4 2,088.0 2,181.2 28.6 40.4 7.6 4.5 Reserve requirement 1,192.5 1,406.0 1,521.5 1,903.3 1,899.2 27.6 24.8 8.2 -0.2 2 Sight 15.8 37.4 31.9 184.7 282.0 101.9 # -14.7 52.7 3 Claims on public sector 1,047.0 1,090.8 1,182.2 1,490.7 1,922.1 12.9 62.6 8.4 28.9 Government 1,026.1 1,079.0 1,157.6 1,466.2 1,884.7 12.8 62.8 7.3 28.5 Public corporations and institutions 20.9 11.8 24.6 24.5 37.4 17.7 52.0 108.5 52.7 4 Claims on non-public sector 6,982.2 8,226.0 8,689.9 10,256.8 11,263.6 24.5 29.6 5.6 9.8 Others 4,714.8 6,768.6 6,316.3 7,925.9 8,265.1 34.0 30.9 -6.7 4.3 Sub-total 16,267.1 20,412.7 20,599.5 25,419.7 27,998.7 26.6 35.9 0.9 10.1 Below the line items 3,026.7 3,267.7 3,701.6 4,543.0 5,032.9 22.3 36.0 13.3 10.8 Total assets = total liabilities 19,293.8 23,680.4 24,301.1 29,962.7 33,031.6 26.0 35.9 2.6 10.2 Liabilities Deposits of non-public sector 10,777.0 12,611.2 13,688.9 17,008.9 18,859.2 27.0 37.8 8.5 10.9 5 Sight 1,124.7 1,545.8 1,823.9 2,551.7 3,510.1 62.2 92.5 18.0 37.6 Term investment 9,040.0 10,268.6 11,005.9 13,272.9 14,032.0 21.7 27.5 7.2 5.7 Gharz-al-hasaneh 466.2 591.6 622.4 893.7 993.1 33.5 59.6 5.2 11.1 Other 146.1 205.2 236.7 290.6 324.0 62.0 36.9 15.4 11.5 Claims of the Central Bank 969.3 874.8 794.2 592.9 532.6 -18.1 -32.9 -9.2 -10.2 6 Deposits and funds of public sector 52.8 41.4 47.0 57.5 59.4 -11.0 26.4 13.5 3.3 Capital account -5.5 139.0 -463.5 -751.6 -684.7 # -47.7 -433.5 8.9 Foreign exchange loans and deposits 1,852.7 2,371.4 2,339.7 2,972.2 3,427.2 26.3 46.5 -1.3 15.3 Others 2,620.8 4,374.9 4,193.2 5,539.8 5,805.0 60.0 38.4 -4.2 4.8 Sub-total 16,267.1 20,412.7 20,599.5 25,419.7 27,998.7 26.6 35.9 0.9 10.1 Below the line items 3,026.7 3,267.7 3,701.6 4,543.0 5,032.9 22.3 36.0 13.3 10.8

1 Excludes private commercial banks' branches abroad. 2 Includes foreign exchange sight deposits of private banks and non-bank credit institutions with the CBI. 3 Includes public sector's participation papers. Figures related to banks' and credit institutions' claims on public sector are prepared based on the data kept in the general ledgers of banks and credit institutions and are not audited. 4 As of Mordad 1398, a sum of Rls. 454 trillion worth of facilities extended by Ayandeh Bank was transferred from "current claims" heading to "other assets" heading. 5 In credit institutions, it includes only temporary creditors. 6 OSF deposit balances and local currency (rial) deposits of NDFI constitute a large proportion of government deposits in the banking system.

# More than 500 percent increase.

Table 7 Monetary and Credit Aggregates (trillion rials) Balance at the end of the month Change Percentage change (Tir 1399 Tir 1398 Tir 1399 Tir 1398 Tir 1399 Tir Esfand Tir Esfand Tir compared with to To to to 1397 1397 1398 1398 1399 Esfand 1398) Tir 1397 Tir 1398 Esfand 1397 Esfand 1398 Banks' and credit institutions' claims on non-public sector 10,034.6 11,466.7 12,019.4 14,162.8 15,398.9 1,236.1 19.8 28.1 4.8 8.7 (excluding profit receivables)

Commercial banks 1,595.0 1,857.1 1,957.1 2,335.5 2,522.8 187.3 22.7 28.9 5.4 8.0 Specialized banks 1,957.0 2,165.3 2,242.4 2,557.0 2,713.3 156.3 14.6 21.0 3.6 6.1 1 Private banks and non-bank credit institutions 6,482.6 7,444.3 7,819.9 9,270.3 10,162.8 892.5 20.6 30.0 5.0 9.6 Banks' and credit institutions' claims on non-public sector 100.0 100.0 100.0 100.0 100.0 Change in share (percentage points) (percentage of total) Commercial banks 15.9 16.2 16.3 16.5 16.4 -0.1 0.4 0.1 0.1 -0.1 Specialized banks 19.5 18.9 18.7 18.1 17.6 -0.5 -0.8 -1.1 -0.2 -0.5

Private banks and non-bank credit institutions 64.6 64.9 65.1 65.5 66.0 0.5 0.5 0.9 0.2 0.5 Profit and revenue receivables 1,237.2 1,659.4 1,771.7 2,057.4 2,204.5 147.1 43.2 24.4 6.8 7.1 Banks' and credit institutions' claims on non-public sector 11,271.8 13,126.1 13,791.1 16,220.2 17,603.4 1,383.2 22.4 27.6 5.1 8.5 Commercial banks 1,828.6 2,167.4 2,284.7 2,752.9 2,954.4 201.5 24.9 29.3 5.4 7.3 Specialized banks 2,461.0 2,732.7 2,816.5 3,210.5 3,385.4 174.9 14.4 20.2 3.1 5.4 1 Private banks and non-bank credit institutions 6,982.2 8,226.0 8,689.9 10,256.8 11,263.6 1,006.8 24.5 29.6 5.6 9.8 Deposits of non-public sector 15,606.9 18,281.4 19,735.8 24,110.1 26,815.2 2,705.1 26.5 35.9 8.0 11.2 Commercial banks 3,159.1 3,789.5 4,064.5 4,775.6 5,338.5 562.9 28.7 31.3 7.3 11.8 Specialized banks 1,670.8 1,880.7 1,982.4 2,325.6 2,617.5 291.9 18.6 32.0 5.4 12.6

Private banks and non-bank credit institutions 10,777.0 12,611.2 13,688.9 17,008.9 18,859.2 1,850.3 27.0 37.8 8.5 10.9 Deposits of non-public sector (percentage of total) 100.0 100.0 100.0 100.0 100.0 Change in share (percentage points) Commercial banks 20.2 20.7 20.6 19.8 19.9 0.1 0.4 -0.7 -0.1 0.1 Specialized banks 10.7 10.3 10.0 9.6 9.8 0.2 -0.7 -0.2 -0.3 0.2

Private banks and non-bank credit institutions 69.1 69.0 69.4 70.5 70.3 -0.2 0.3 0.9 0.4 -0.2 Sight 1,733.5 2,304.8 2,685.1 3,661.6 4,976.5 1,314.9 54.9 85.3 16.5 35.9 Current deposits 1,397.7 1,929.2 2,315.8 3,182.4 4,455.3 1,272.9 65.7 92.4 20.0 40.0 Checks (net) 67.9 60.0 46.0 172.2 113.6 -58.6 -32.3 147.0 -23.3 -34.0 Others 267.9 315.6 323.3 307.0 407.6 100.6 20.7 26.1 2.4 32.8 Non-sight 13,873.4 15,976.6 17,050.7 20,448.5 21,838.7 1,390.2 22.9 28.1 6.7 6.8 Gharz-al-hasaneh savings 828.6 1,026.5 1,070.9 1,448.1 1,611.2 163.1 29.2 50.5 4.3 11.3 Housing Savings Fund 92.1 83.1 75.8 64.7 57.5 -7.2 -17.7 -24.1 -8.8 -11.1 Other 736.5 943.4 995.1 1,383.4 1,553.7 170.3 35.1 56.1 5.5 12.3 Term investment 12,816.4 14,646.0 15,637.0 18,568.0 19,733.5 1,165.5 22.0 26.2 6.8 6.3 Short-term 4,507.3 5,848.9 6,103.9 7,081.1 7,946.6 865.5 35.4 30.2 4.4 12.2 Long-term 8,309.1 8,797.1 9,533.1 11,486.9 11,786.9 300.0 14.7 23.6 8.4 2.6 Miscellaneous 228.4 304.1 342.8 432.4 494.0 61.6 50.1 44.1 12.7 14.2 Notes and coins with the public 415.6 547.5 501.2 611.4 582.6 -28.8 20.6 16.2 -8.5 -4.7 M1 2,149.1 2,852.3 3,186.3 4,273.0 5,559.1 1,286.1 48.3 74.5 11.7 30.1 Quasi-money 13,873.4 15,976.6 17,050.7 20,448.5 21,838.7 1,390.2 22.9 28.1 6.7 6.8 M2 16,022.5 18,828.9 20,237.0 24,721.5 27,397.8 2,676.3 26.3 35.4 7.5 10.8 1 As of Mordad 1398, a sum of Rls. 454 trillion worth of facilities extended by Ayandeh Bank was transferred from "current claims" heading to "other assets" heading.

Facilities Extended by Banks and Non-bank Credit Institutions Table 8 according to Islamic Contracts (trillion rials) Balance at the end of Share of Tir 1399 Percentage change Esfand 1398 Tir 1399 in total balance Tir 1399 compared to Esfand 1398 Banks and non-bank credit institutions 16,096.8 17,377.0 100.0 8.0 Gharz-al-hasaneh 1,157.5 1,510.6 8.7 30.5 Mudarabah 186.4 208.1 1.2 11.6 Forward transactions 197.0 225.7 1.3 14.6 Civil partnership 4,049.9 3,876.5 22.3 -4.3 Ju'alah 797.3 885.2 5.1 11.0 Installment sale 4,421.3 4,441.0 25.6 0.4 1 Murabaha 2,812.7 3,491.5 20.1 24.1 1 Istisna'a 1.2 4.0 0.0 233.3 Hire purchase 106.6 110.5 0.6 3.7 Legal partnership 508.9 543.4 3.1 6.8 Direct investment 70.4 71.7 0.4 1.8 Other 2 1,787.6 2,008.8 11.6 12.4 Commercial banks 2,703.7 2,853.0 100.0 5.5 Gharz-al-hasaneh 253.6 348.4 12.2 37.4 Mudarabah 89.6 95.1 3.3 6.1 Forward transactions 52.8 57.1 2.0 8.1 Civil partnership 271.0 284.4 10.0 4.9 Ju'alah 298.4 296.4 10.4 -0.7 Installment sale 1,150.3 1,170.6 41.0 1.8

Murabaha 263.3 230.3 8.1 -12.5

Istisna'a 1.2 1.0 0.0 -16.7 Hire purchase 19.6 20.7 0.7 5.6 Legal partnership 41.1 40.4 1.4 -1.7 Direct investment 23.1 24.0 0.8 3.9 Other 2 239.7 284.6 10.0 18.7 Specialized banks 3,209.3 3,384.3 100.0 5.5 Gharz-al-hasaneh 122.0 160.1 4.7 31.2 Mudarabah 7.0 6.5 0.2 -7.1 Forward transactions 22.2 17.2 0.5 -22.5 Civil partnership 427.3 443.9 13.1 3.9 Ju'alah 229.8 255.4 7.5 11.1 Installment sale 1,572.7 1,585.6 46.9 0.8

Murabaha 386.5 415.1 12.3 7.4

Istisna'a 0.0 0.0 0.0 θ Hire purchase 73.2 76.5 2.3 4.5 Legal partnership 25.8 25.6 0.8 -0.8 Direct investment 9.1 9.1 0.3 0.0 Other 2 333.7 389.3 11.5 16.7 Private banks and non-bank credit institutions 10,183.8 11,139.7 100.0 9.4 Gharz-al-hasaneh 781.9 1,002.1 9.0 28.2 Mudarabah 89.8 106.5 1.0 18.6 Forward transactions 122.0 151.4 1.4 24.1 Civil partnership 3,351.6 3,148.2 28.3 -6.1 Ju'alah 269.1 333.4 3.0 23.9 Installment sale 1,698.3 1,684.8 15.1 -0.8

Murabaha 2,162.9 2,846.1 25.5 31.6

Istisna'a 0.0 3.0 0.0 θ Hire purchase 13.8 13.3 0.1 -3.6 Legal partnership 442.0 477.4 4.3 8.0 Direct investment 38.2 38.6 0.3 1.0 Other 2 1,214.2 1,334.9 12.0 9.9 1 2 As of Tir 1394, facilities extended according to Murabaha and Istisna'a contracts have been added to facilities extended according to Islamic contracts. Includes debt purchase, machinery and housing units transacted under Islamic contracts, and overdue and non-performing loans. θ Calculation of percentage change is not possible.