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

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

Shahrivar Shahrivar Shahrivar 1399 to Shahrivar 1399 to Shahrivar 1399 to Shahrivar 1399 to 1398 1398 1399 Shahrivar 1398 Esfand 1398 Shahrivar 1398 Esfand 1398 Monetary base (sources) 2,951.2 3,528.5 3,720.6 26.1 5.4 26.1 5.4 CBI foreign assets (net) 2,657.7 3,475.7 3,631.8 36.7 4.5 33.0 4.4 CBI claims on public sector (net) 336.6 156.3 172.7 -48.7 10.5 -5.5 0.5 Monetary CBI claims on banks 1,218.8 1,106.9 1,291.9 6.0 16.7 2.5 5.2 Base CBI other items (net) -1,261.9 -1,210.4 -1,375.8 -9.0 -13.7 -3.9 -4.7 Monetary base (uses) 2,951.2 3,528.5 3,720.6 26.1 5.4 Notes and coins in circulation 622.3 701.4 698.1 12.2 -0.5 Deposits of banks and credit institutions with the CBI 2,328.9 2,827.1 3,022.5 29.8 6.9 Ratio of notes and coins with the public to total deposits 0.0240 0.0254 0.0211 -12.1 -16.9 Money Ratio of reserve requirement to total deposits 0.1063 0.1080 0.0979 -7.9 -9.4 Multiplier Ratio of excess reserves to total deposits 0.0118 0.0130 0.0122 3.4 -6.2 Money multiplier 7.205 7.006 7.783 8.0 11.1 M2 and contribution of factors affecting M2 growth 21,264.4 24,721.5 28,958.9 36.2 17.1 36.2 17.1 Foreign assets (net) 3,689.7 4,632.3 4,903.9 32.9 5.9 5.7 1.1 Central Bank 2,657.7 3,475.7 3,631.8 36.7 4.5 4.6 0.6 Banks and credit institutions 1,032.0 1,156.6 1,272.1 23.3 10.0 1.1 0.5 Domestic assets (net) 17,574.7 20,089.2 24,055.0 36.9 19.7 30.5 16.0 Domestic claims 14,768.0 16,955.8 20,246.5 37.1 19.4 25.8 13.3 Claims on government (net) 2,425.3 2,386.7 3,127.2 28.9 31.0 3.3 3.0 Central Bank 168.4 -181.4 -97.6 -158.0 46.2 -1.3 0.3 Banks and credit institutions 2,256.9 2,568.1 3,224.8 42.9 25.6 4.6 2.7 Claims on public corporations and institutions (net) 223.1 406.3 386.3 73.2 -4.9 0.8 -0.1 Central Bank 168.2 337.7 270.3 60.7 -20.0 0.5 -0.3 Banks and credit institutions 54.9 68.6 116.0 111.3 69.1 0.3 0.2 Claims on non-public sector 12,119.6 14,162.8 16,733.0 38.1 18.1 21.7 10.4 Other items (net) 2,806.7 3,133.4 3,808.5 35.7 21.5 4.7 2.7 M2 Share of determinants' balance in M2 balance (percent) M2 and its determinants 21,264.4 24,721.5 28,958.9 36.2 17.1 Esfand 1398 Shahrivar 1399 M1 3,333.5 4,273.0 6,007.0 80.2 40.6 17.3 20.7 Notes and coins with the public 498.6 611.4 599.6 20.3 -1.9 2.5 2.0 Sight deposits 2,834.9 3,661.6 5,407.4 90.7 47.7 14.8 18.7 Quasi-money 17,930.9 20,448.5 22,951.9 28.0 12.2 82.7 79.3 Gharz-al-hasaneh savings deposits 1,127.9 1,448.1 1,705.3 51.2 17.8 5.9 5.9 Short-term deposits 6,206.0 7,081.1 8,641.3 39.2 22.0 28.6 29.8 One-year deposits 10,064.7 11,348.3 11,179.7 11.1 -1.5 45.9 38.6 Two-year deposits 34.4 38.9 824.6 # # 0.2 2.9 Three-year deposits 0.7 0.6 0.4 -42.9 -33.3 0.0 0.0 Four-year deposits 4.4 4.3 4.2 -4.5 -2.3 0.0 0.0 Five-year deposits 134.8 94.8 73.4 -45.5 -22.6 0.4 0.3 Miscellaneous deposits 358.0 432.4 523.0 46.1 21.0 1.7 1.8 # More than 500 percent increase. 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 Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Shahrivar 1397 Shahrivar 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 8,199.2 9,171.4 10,250.6 11,580.4 12,848.2 25.0 25.3 11.8 10.9 2 Claims on public sector 2,939.4 3,325.5 3,722.5 4,164.9 5,096.5 26.6 36.9 11.9 22.4 Government 2,614.0 3,041.3 3,428.6 3,697.1 4,616.2 31.2 34.6 12.7 24.9 Public corporations and institutions 325.4 284.2 293.9 467.8 480.3 -9.7 63.4 3.4 2.7 3 Claims on non-public sector 11,655.5 13,126.1 13,832.0 16,220.2 19,347.9 18.7 39.9 5.4 19.3 Others 11,029.4 13,163.0 13,649.6 15,470.0 17,638.7 23.8 29.2 3.7 14.0 Sub-total 33,823.5 38,786.0 41,454.7 47,435.5 54,931.3 22.6 32.5 6.9 15.8 Below the line items 4,520.8 4,748.7 6,167.4 6,767.9 7,797.2 36.4 26.4 29.9 15.2 Total assets = total liabilities 38,344.3 43,534.7 47,622.1 54,203.4 62,728.5 24.2 31.7 9.4 15.7 Liabilities M2 16,723.7 18,828.9 21,264.4 24,721.5 28,958.9 27.2 36.2 12.9 17.1 M1 2,436.7 2,852.3 3,333.5 4,273.0 6,007.0 36.8 80.2 16.9 40.6 Quasi-money 14,287.0 15,976.6 17,930.9 20,448.5 22,951.9 25.5 28.0 12.2 12.2 Loans and deposits of public sector 837.5 915.9 1,066.9 1,366.9 1,577.2 27.4 47.8 16.5 15.4 Government 786.3 861.8 1,003.3 1,310.4 1,489.0 27.6 48.4 16.4 13.6 Public corporations and institutions 51.2 54.1 63.6 56.5 88.2 24.2 38.7 17.6 56.1 Capital account 478.9 489.2 -367.7 -438.9 221.0 -176.8 160.1 -175.2 150.4 Foreign loans and credits and foreign exchange deposits 5,097.4 5,918.8 6,560.9 6,948.1 7,944.3 28.7 21.1 10.8 14.3 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 0.4 1.7 1.8 1.8 0.7 350.0 -61.1 5.9 -61.1 Others 10,685.6 12,631.5 12,928.4 14,836.1 16,229.2 21.0 25.5 2.4 9.4 Sub-total 33,823.5 38,786.0 41,454.7 47,435.5 54,931.3 22.6 32.5 6.9 15.8 Below the line items 4,520.8 4,748.7 6,167.4 6,767.9 7,797.2 36.4 26.4 29.9 15.2

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’s 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.

Summary of the Assets and Liabilities of the Central Bank Table 2 of the Islamic Republic of (trillion rials) Balance at the end of the month Percentage change Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Shahrivar 1397 Shahrivar 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 4,592.0 4,651.3 4,659.8 5,364.6 5,551.2 1.5 19.1 0.2 3.5 Notes and coins 29.9 21.6 35.2 16.1 19.4 17.7 -44.9 63.0 20.5 Claims on public sector 641.7 958.2 1,107.6 1,158.5 1,396.9 72.6 26.1 15.6 20.6 Government 368.5 731.2 875.8 764.3 1,038.4 137.7 18.6 19.8 35.9 Public corporations and institutions 273.2 227.0 231.8 394.2 358.5 -15.2 54.7 2.1 -9.1 Claims on banks 1,506.5 1,381.7 1,218.8 1,106.9 1,291.9 -19.1 6.0 -11.8 16.7 1 Others 280.0 268.4 455.2 319.1 468.4 62.6 2.9 69.6 46.8 Sub-total 7,050.1 7,281.2 7,476.6 7,965.2 8,727.8 6.0 16.7 2.7 9.6 Below the line items 19.0 28.9 21.2 28.1 21.0 11.6 -0.9 -26.6 -25.3 Total assets = total liabilities 7,069.1 7,310.1 7,497.8 7,993.3 8,748.8 6.1 16.7 2.6 9.5 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 445.0 547.5 498.6 611.4 599.6 12.0 20.3 -8.9 -1.9 With banks 88.0 88.4 123.7 90.0 98.5 40.6 -20.4 39.9 9.4 With the Central Bank 29.9 21.6 35.2 16.1 19.4 17.7 -44.9 63.0 20.5 Deposits of banks and credit institutions 1,812.1 2,021.0 2,328.9 2,827.1 3,022.5 28.5 29.8 15.2 6.9 Reserve requirement 1,729.4 1,948.0 2,206.6 2,604.7 2,775.6 27.6 25.8 13.3 6.6 2 Sight 82.7 73.0 122.3 222.4 246.9 47.9 101.9 67.5 11.0 Deposits of public sector 559.3 666.2 771.0 1,002.2 1,224.2 37.9 58.8 15.7 22.2 Government 508.1 612.1 707.4 945.7 1,136.0 39.2 60.6 15.6 20.1 Public corporations and institutions 51.2 54.1 63.6 56.5 88.2 24.2 38.7 17.6 56.1 3 Capital account 89.5 118.6 95.8 116.3 108.1 7.0 12.8 -19.2 -7.1 Foreign exchange liabilities 2,227.5 2,234.8 2,002.1 1,888.9 1,919.4 -10.1 -4.1 -10.4 1.6 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 0.4 1.7 1.8 1.8 0.7 350.0 -61.1 5.9 -61.1 Others 1,798.4 1,581.4 1,619.5 1,411.4 1,735.4 -9.9 7.2 2.4 23.0 Sub-total 7,050.1 7,281.2 7,476.6 7,965.2 8,727.8 6.0 16.7 2.7 9.6 Below the line items 19.0 28.9 21.2 28.1 21.0 11.6 -0.9 -26.6 -25.3 1 The major reason behind the increase in the CBI’s other assets at end-Shahrivar 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 Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Shahrivar 1397 Shahrivar 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 3,607.2 4,520.1 5,590.8 6,215.8 7,297.0 55.0 30.5 23.7 17.4 Notes and coins 88.0 88.4 123.7 90.0 98.5 40.6 -20.4 39.9 9.4 Deposits with the Central Bank 1,812.1 2,021.0 2,328.9 2,827.1 3,022.5 28.5 29.8 15.2 6.9 Reserve requirement 1,729.4 1,948.0 2,206.6 2,604.7 2,775.6 27.6 25.8 13.3 6.6 2 Sight 82.7 73.0 122.3 222.4 246.9 47.9 101.9 67.5 11.0 3 Claims on public sector 2,297.7 2,367.3 2,614.9 3,006.4 3,699.6 13.8 41.5 10.5 23.1 Government 2,245.5 2,310.1 2,552.8 2,932.8 3,577.8 13.7 40.2 10.5 22.0 Public corporations and institutions 52.2 57.2 62.1 73.6 121.8 19.0 96.1 8.6 65.5 4 Claims on non-public sector 11,655.5 13,126.1 13,832.0 16,220.2 19,347.9 18.7 39.9 5.4 19.3 Others 7,312.9 9,381.9 9,487.8 11,110.8 12,738.0 29.7 34.3 1.1 14.6 Sub-total 26,773.4 31,504.8 33,978.1 39,470.3 46,203.5 26.9 36.0 7.9 17.1 Below the line items 4,501.8 4,719.8 6,146.2 6,739.8 7,776.2 36.5 26.5 30.2 15.4 Total assets = total liabilities 31,275.2 36,224.6 40,124.3 46,210.1 53,979.7 28.3 34.5 10.8 16.8 Liabilities Deposits of non-public sector 16,278.7 18,281.4 20,765.8 24,110.1 28,359.3 27.6 36.6 13.6 17.6 Sight 1,991.7 2,304.8 2,834.9 3,661.6 5,407.4 42.3 90.7 23.0 47.7 Term investment 13,129.7 14,646.0 16,445.0 18,568.0 20,723.6 25.3 26.0 12.3 11.6 5 Gharz-al-hasaneh 913.0 1,026.5 1,127.9 1,448.1 1,705.3 23.5 51.2 9.9 17.8 Other 244.3 304.1 358.0 432.4 523.0 46.5 46.1 17.7 21.0 Claims of the Central Bank 1,506.5 1,381.7 1,218.8 1,106.9 1,291.9 -19.1 6.0 -11.8 16.7 6 Loans and deposits of public sector 278.2 249.7 295.9 364.7 353.0 6.4 19.3 18.5 -3.2 Capital account 389.4 370.6 -463.5 -555.2 112.9 -219.0 124.4 -225.1 120.3 Foreign exchange loans and deposits 2,869.9 3,684.0 4,558.8 5,059.2 6,024.9 58.8 32.2 23.7 19.1 Others 5,450.7 7,537.4 7,602.3 9,384.6 10,061.5 39.5 32.3 0.9 7.2 Sub-total 26,773.4 31,504.8 33,978.1 39,470.3 46,203.5 26.9 36.0 7.9 17.1 Below the line items 4,501.8 4,719.8 6,146.2 6,739.8 7,776.2 36.5 26.5 30.2 15.4 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’s 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 the NDFI constitute a large proportion of government deposits in the banking system.

1 Table 4 Summary of the Assets and Liabilities of Commercial Banks (trillion rials) Balance at the end of the month Percentage change Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Shahrivar 1397 Shahrivar 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 568.8 573.4 508.6 769.9 744.5 -10.6 46.4 -11.3 -3.3 Notes and coins 30.1 26.0 47.2 26.6 34.3 56.8 -27.3 81.5 28.9 Deposits with the Central Bank 387.2 439.1 479.1 555.5 564.0 23.7 17.7 9.1 1.5 Reserve requirement 351.9 410.7 447.5 527.5 529.7 27.2 18.4 9.0 0.4 2 Sight 35.3 28.4 31.6 28.0 34.3 -10.5 8.5 11.3 22.5 3 Claims on public sector 633.7 691.6 748.5 858.4 1,071.1 18.1 43.1 8.2 24.8 Government 603.9 650.1 713.0 814.4 993.9 18.1 39.4 9.7 22.0 Public corporations and institutions 29.8 41.5 35.5 44.0 77.2 19.1 117.5 -14.5 75.5 Claims on non-public sector 1,917.2 2,167.4 2,380.3 2,752.9 3,156.5 24.2 32.6 9.8 14.7 Others 1,203.9 1,922.6 1,634.7 2,404.3 2,799.7 35.8 71.3 -15.0 16.4 Sub-total 4,740.9 5,820.1 5,798.4 7,367.6 8,370.1 22.3 44.4 -0.4 13.6 Below the line items 513.1 497.8 494.5 646.3 723.4 -3.6 46.3 -0.7 11.9 Total assets = total liabilities 5,254.0 6,317.9 6,292.9 8,013.9 9,093.5 19.8 44.5 -0.4 13.5 Liabilities Deposits of non-public sector 3,288.1 3,789.5 4,238.9 4,775.6 5,534.8 28.9 30.6 11.9 15.9 Sight 454.2 514.1 591.0 758.6 1,103.8 30.1 86.8 15.0 45.5 Term investment 2,557.8 2,938.8 3,280.7 3,537.3 3,838.2 28.3 17.0 11.6 8.5 Gharz-al-hasaneh 205.2 255.2 274.0 360.6 442.7 33.5 61.6 7.4 22.8 Other 70.9 81.4 93.2 119.1 150.1 31.5 61.1 14.5 26.0 Claims of the Central Bank 39.0 29.2 40.5 43.4 96.8 3.8 139.0 38.7 123.0 4 Loans and deposits of public sector 104.0 96.2 87.1 141.1 135.1 -16.3 55.1 -9.5 -4.3 Capital account -20.6 -25.1 -166.1 -19.2 532.1 # 420.3 # # Foreign exchange loans and deposits 435.6 446.0 429.5 685.2 675.7 -1.4 57.3 -3.7 -1.4 Others 894.8 1,484.3 1,168.5 1,741.5 1,395.6 30.6 19.4 -21.3 -19.9 Sub-total 4,740.9 5,820.1 5,798.4 7,367.6 8,370.1 22.3 44.4 -0.4 13.6 Below the line items 513.1 497.8 494.5 646.3 723.4 -3.6 46.3 -0.7 11.9

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 the 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 Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Shahrivar 1397 Shahrivar 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 856.6 1,113.4 1,697.1 1,839.8 1,947.8 98.1 14.8 52.4 5.9 Notes and coins 10.2 11.8 11.5 11.2 10.7 12.7 -7.0 -2.5 -4.5 Deposits with the Central Bank 126.0 138.5 154.1 183.6 229.3 22.3 48.8 11.3 24.9 Reserve requirement 122.9 131.3 152.5 173.9 218.8 24.1 43.5 16.1 25.8 1 Sight 3.1 7.2 1.6 9.7 10.5 -48.4 # -77.8 8.2 2 Claims on public sector 573.9 584.9 574.5 657.3 530.7 0.1 -7.6 -1.8 -19.3 Government 571.6 581.0 570.5 652.2 521.6 -0.2 -8.6 -1.8 -20.0 Public corporations and institutions 2.3 3.9 4.0 5.1 9.1 73.9 127.5 2.6 78.4 Claims on non-public sector 2,534.0 2,732.7 2,883.6 3,210.5 3,519.0 13.8 22.0 5.5 9.6 Others 608.5 690.7 634.0 780.6 826.4 4.2 30.3 -8.2 5.9 Sub-total 4,709.2 5,272.0 5,954.8 6,683.0 7,063.9 26.5 18.6 13.0 5.7 Below the line items 962.8 954.3 1,506.7 1,550.5 1,653.1 56.5 9.7 57.9 6.6 Total assets = total liabilities 5,672.0 6,226.3 7,461.5 8,233.5 8,717.0 31.5 16.8 19.8 5.9 Liabilities Deposits of non-public sector 1,717.7 1,880.7 2,071.4 2,325.6 2,743.4 20.6 32.4 10.1 18.0 Sight 200.7 244.9 294.9 351.3 465.1 46.9 57.7 20.4 32.4 Term investment 1,316.9 1,438.6 1,573.0 1,757.8 2,037.8 19.4 29.5 9.3 15.9 3 Gharz-al-hasaneh 184.8 179.7 182.3 193.8 214.0 -1.4 17.4 1.4 10.4 Other 15.3 17.5 21.2 22.7 26.5 38.6 25.0 21.1 16.7 Claims of the Central Bank 453.7 477.7 450.4 470.6 446.9 -0.7 -0.8 -5.7 -5.0 4 Loans and deposits of public sector 119.5 112.1 155.4 166.1 167.0 30.0 7.5 38.6 0.5 Capital account 281.8 256.7 176.8 215.6 379.8 -37.3 114.8 -31.1 76.2 Foreign exchange loans and deposits 643.2 866.6 1,307.1 1,401.8 1,521.5 103.2 16.4 50.8 8.5 Others 1,493.3 1,678.2 1,793.7 2,103.3 1,805.3 20.1 0.6 6.9 -14.2 Sub-total 4,709.2 5,272.0 5,954.8 6,683.0 7,063.9 26.5 18.6 13.0 5.7 Below the line items 962.8 954.3 1,506.7 1,550.5 1,653.1 56.5 9.7 57.9 6.6

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 the NDFI constitute a large proportion of government deposits in the banking system.

# More than 500 percent increase.

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 Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Shahrivar 1397 Shahrivar 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 2,181.8 2,833.3 3,385.1 3,606.1 4,604.7 55.2 36.0 19.5 27.7 Notes and coins 47.7 50.6 65.0 52.2 53.5 36.3 -17.7 28.5 2.5 Deposits with the Central Bank 1,298.9 1,443.4 1,695.7 2,088.0 2,229.2 30.5 31.5 17.5 6.8 Reserve requirement 1,254.6 1,406.0 1,606.6 1,903.3 2,027.1 28.1 26.2 14.3 6.5 2 Sight 44.3 37.4 89.1 184.7 202.1 101.1 126.8 138.2 9.4 3 Claims on public sector 1,090.1 1,090.8 1,291.9 1,490.7 2,097.8 18.5 62.4 18.4 40.7 Government 1,070.0 1,079.0 1,269.3 1,466.2 2,062.3 18.6 62.5 17.6 40.7 Public corporations and institutions 20.1 11.8 22.6 24.5 35.5 12.4 57.1 91.5 44.9 4 Claims on non-public sector 7,204.3 8,226.0 8,568.1 10,256.8 12,672.4 18.9 47.9 4.2 23.6 Others 5,500.5 6,768.6 7,219.1 7,925.9 9,111.9 31.2 26.2 6.7 15.0 Sub-total 17,323.3 20,412.7 22,224.9 25,419.7 30,769.5 28.3 38.4 8.9 21.0 Below the line items 3,025.9 3,267.7 4,145.0 4,543.0 5,399.7 37.0 30.3 26.8 18.9 Total assets = total liabilities 20,349.2 23,680.4 26,369.9 29,962.7 36,169.2 29.6 37.2 11.4 20.7 Liabilities Deposits of non-public sector 11,272.9 12,611.2 14,455.5 17,008.9 20,081.1 28.2 38.9 14.6 18.1 5 Sight 1,336.8 1,545.8 1,949.0 2,551.7 3,838.5 45.8 96.9 26.1 50.4 Term investment 9,255.0 10,268.6 11,591.3 13,272.9 14,847.6 25.2 28.1 12.9 11.9 Gharz-al-hasaneh 523.0 591.6 671.6 893.7 1,048.6 28.4 56.1 13.5 17.3 Other 158.1 205.2 243.6 290.6 346.4 54.1 42.2 18.7 19.2 Claims of the Central Bank 1,013.8 874.8 727.9 592.9 748.2 -28.2 2.8 -16.8 26.2 6 Deposits and funds of public sector 54.7 41.4 53.4 57.5 50.9 -2.4 -4.7 29.0 -11.5 Capital account 128.2 139.0 -474.2 -751.6 -799.0 -469.9 -68.5 -441.2 -6.3 Foreign exchange loans and deposits 1,791.1 2,371.4 2,822.2 2,972.2 3,827.7 57.6 35.6 19.0 28.8 Others 3,062.6 4,374.9 4,640.1 5,539.8 6,860.6 51.5 47.9 6.1 23.8 Sub-total 17,323.3 20,412.7 22,224.9 25,419.7 30,769.5 28.3 38.4 8.9 21.0 Below the line items 3,025.9 3,267.7 4,145.0 4,543.0 5,399.7 37.0 30.3 26.8 18.9 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 the NDFI constitute a large proportion of government deposits in the banking system.

Table 7 Monetary and Credit Aggregates (trillion rials) Balance at the end of the month Change Percentage change (Shahrivar 1399 Shahrivar Shahrivar Shahrivar Shahrivar Shahrivar Esfand Shahrivar Esfand Shahrivar compared with 1398 to 1399 to 1398 to 1399 to 1397 1397 1398 1398 1399 Esfand 1398) Shahrivar 1397Shahrivar 1398 Esfand 1397 Esfand 1398 Banks' and credit institutions' claims on non-public sector 10,364.2 11,466.7 12,119.6 14,162.8 16,733.0 2,570.2 16.9 38.1 5.7 18.1 (excluding profit receivables)

Commercial banks 1,663.1 1,857.1 2,034.6 2,335.5 2,698.9 363.4 22.3 32.7 9.6 15.6 Specialized banks 2,013.1 2,165.3 2,298.6 2,557.0 2,816.1 259.1 14.2 22.5 6.2 10.1 1 Private banks and non-bank credit institutions 6,688.0 7,444.3 7,786.4 9,270.3 11,218.0 1,947.7 16.4 44.1 4.6 21.0 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 16.0 16.2 16.8 16.5 16.1 -0.4 0.8 -0.7 0.6 -0.4 Specialized banks 19.4 18.9 19.0 18.1 16.8 -1.3 -0.4 -2.2 0.1 -1.3

Private banks and non-bank credit institutions 64.5 64.9 64.2 65.5 67.0 1.5 -0.3 2.8 -0.7 1.5 Profit and revenue receivables 1,291.3 1,659.4 1,712.4 2,057.4 2,614.9 557.5 32.6 52.7 3.2 27.1 Banks' and credit institutions' claims on non-public sector 11,655.5 13,126.1 13,832.0 16,220.2 19,347.9 3,127.7 18.7 39.9 5.4 19.3 Commercial banks 1,917.2 2,167.4 2,380.3 2,752.9 3,156.5 403.6 24.2 32.6 9.8 14.7 Specialized banks 2,534.0 2,732.7 2,883.6 3,210.5 3,519.0 308.5 13.8 22.0 5.5 9.6 1 Private banks and non-bank credit institutions 7,204.3 8,226.0 8,568.1 10,256.8 12,672.4 2,415.6 18.9 47.9 4.2 23.6 Deposits of non-public sector 16,278.7 18,281.4 20,765.8 24,110.1 28,359.3 4,249.2 27.6 36.6 13.6 17.6 Commercial banks 3,288.1 3,789.5 4,238.9 4,775.6 5,534.8 759.2 28.9 30.6 11.9 15.9 Specialized banks 1,717.7 1,880.7 2,071.4 2,325.6 2,743.4 417.8 20.6 32.4 10.1 18.0

Private banks and non-bank credit institutions 11,272.9 12,611.2 14,455.5 17,008.9 20,081.1 3,072.2 28.2 38.9 14.6 18.1 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 20.4 19.8 19.5 -0.3 0.2 -0.9 -0.3 -0.3 Specialized banks 10.6 10.3 10.0 9.6 9.7 0.1 -0.6 -0.3 -0.3 0.1

Private banks and non-bank credit institutions 69.2 69.0 69.6 70.5 70.8 0.3 0.4 1.2 0.6 0.3 Sight 1,991.7 2,304.8 2,834.9 3,661.6 5,407.4 1,745.8 42.3 90.7 23.0 47.7 Current deposits 1,606.1 1,929.2 2,477.9 3,182.4 4,838.0 1,655.6 54.3 95.2 28.4 52.0 Checks (net) 75.3 60.0 44.2 172.2 155.4 -16.8 -41.3 251.6 -26.3 -9.8 Others 310.3 315.6 312.8 307.0 414.0 107.0 0.8 32.4 -0.9 34.9 Non-sight 14,287.0 15,976.6 17,930.9 20,448.5 22,951.9 2,503.4 25.5 28.0 12.2 12.2 Gharz-al-hasaneh savings 913.0 1,026.5 1,127.9 1,448.1 1,705.3 257.2 23.5 51.2 9.9 17.8 Housing Savings Fund 91.3 83.1 73.0 64.7 54.7 -10.0 -20.0 -25.1 -12.2 -15.5 Other 821.7 943.4 1,054.9 1,383.4 1,650.6 267.2 28.4 56.5 11.8 19.3 Term investment 13,129.7 14,646.0 16,445.0 18,568.0 20,723.6 2,155.6 25.3 26.0 12.3 11.6 Short-term 4,903.5 5,848.9 6,206.0 7,081.1 8,641.3 1,560.2 26.6 39.2 6.1 22.0 Long-term 8,226.2 8,797.1 10,239.0 11,486.9 12,082.3 595.4 24.5 18.0 16.4 5.2 Miscellaneous 244.3 304.1 358.0 432.4 523.0 90.6 46.5 46.1 17.7 21.0 Notes and coins with the public 445.0 547.5 498.6 611.4 599.6 -11.8 12.0 20.3 -8.9 -1.9 M1 2,436.7 2,852.3 3,333.5 4,273.0 6,007.0 1,734.0 36.8 80.2 16.9 40.6 Quasi-money 14,287.0 15,976.6 17,930.9 20,448.5 22,951.9 2,503.4 25.5 28.0 12.2 12.2 M2 16,723.7 18,828.9 21,264.4 24,721.5 28,958.9 4,237.4 27.2 36.2 12.9 17.1 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 Shahrivar 1399 Percentage change Esfand 1398 Shahrivar 1399 in total balance Shahrivar 1399 compared to Esfand 1398 Banks and non-bank credit institutions 16,096.8 19,128.4 100.0 18.8 Gharz-al-hasaneh 1,157.5 1,641.4 8.6 41.8 Mudarabah 186.4 238.7 1.2 28.1 Forward transactions 197.0 279.1 1.5 41.7 Partnership 4,049.9 3,586.9 18.8 -11.4 Ju'alah 797.3 940.9 4.9 18.0 Installment sale 4,421.3 5,302.7 27.7 19.9 1 Murabaha 2,812.7 4,273.6 22.3 51.9 1 Istisna'a 1.2 0.9 0.0 -25.0 Hire purchase 106.6 123.0 0.6 15.4 Legal partnership 508.9 596.7 3.1 17.3 Direct investment 70.4 74.1 0.4 5.3 Other 2 1,787.6 2,070.4 10.8 15.8 Commercial banks 2,703.7 3,088.0 100.0 14.2 Gharz-al-hasaneh 253.6 389.9 12.6 53.7 Mudarabah 89.6 101.9 3.3 13.7 Forward transactions 52.8 63.8 2.1 20.8 Partnership 271.0 280.5 9.1 3.5 Ju'alah 298.4 306.5 9.9 2.7 Installment sale 1,150.3 1,192.1 38.6 3.6

Murabaha 263.3 346.6 11.2 31.6

Istisna'a 1.2 0.9 0.0 -25.0 Hire purchase 19.6 21.0 0.7 7.1 Legal partnership 41.1 48.6 1.6 18.2 Direct investment 23.1 24.6 0.8 6.5 Other 2 239.7 311.6 10.1 30.0 Specialized banks 3,209.3 3,495.7 100.0 8.9 Gharz-al-hasaneh 122.0 169.7 4.9 39.1 Mudarabah 7.0 6.6 0.2 -5.7 Forward transactions 22.2 15.8 0.5 -28.8 Partnership 427.3 470.4 13.5 10.1 Ju'alah 229.8 271.0 7.8 17.9 Installment sale 1,572.7 1,621.6 46.4 3.1

Murabaha 386.5 453.7 13.0 17.4

Istisna'a 0.0 0.0 0.0 θ Hire purchase 73.2 88.6 2.5 21.0 Legal partnership 25.8 25.8 0.7 0.0 Direct investment 9.1 9.1 0.3 0.0 Other 2 333.7 363.4 10.4 8.9 Private banks and non-bank credit institutions 10,183.8 12,544.7 100.0 23.2 Gharz-al-hasaneh 781.9 1,081.8 8.6 38.4 Mudarabah 89.8 130.2 1.0 45.0 Forward transactions 122.0 199.5 1.6 63.5 Partnership 3,351.6 2,836.0 22.6 -15.4 Ju'alah 269.1 363.4 2.9 35.0 Installment sale 1,698.3 2,489.0 19.8 46.6

Murabaha 2,162.9 3,473.3 27.7 60.6

Istisna'a 0.0 0.0 0.0 θ Hire purchase 13.8 13.4 0.1 -2.9 Legal partnership 442.0 522.3 4.2 18.2 Direct investment 38.2 40.4 0.3 5.8 Other 2 1,214.2 1,395.4 11.1 14.9 1 2 As of 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.