USD
42,000
Euro
47,424
Pound
54,574
AED
11,437
MESSAGE FROM THE BOARD OF DIRECTORS

Managing Director’s Statement
 

During the 2016-17 we left behind, according to Central Bank of Islamic Republic of Iran, the inflation rate is in the range of one digit and is at 9 percent and gross domestic product grew to 12.5 percent. (2011 as base year) According to the Statistics Center of Iran, it was 8.3 percent (1997 as base year) It has grown over the past decade and has been promising
signs of the future of Iran’s economy.

Of course, a significant part of economic growth was attributed to the value added of the oil sector. Iran’s share of the oil market fell by less than half after the outrageous sanctions on the country’s oil industry intensified, but after a nuclear deal and implementation, the volume of oil production and exports reached its levels.

 Undoubtedly, the Banking system supports the granting of facilities to economic enterprises, in promoting the growth of effective industry and agriculture, and the growth of these sectors, undoubtedly, the Banking system supports the granting of facilities to economic enterprises, in promoting the growth of effective industry and agriculture, and the growth of these sectors. Thus, in 2016-17, the government managed to attain a high level of inflation at the macroeconomic level, and to create a favorable economic growth (though it would sell oil).
In spite of the optimism of stock exchange activists in the capital market, the negative return were 3.7 times, compared to 20 percent increase in coin price, Risk-free return of 25 percent of debt securities and growth of about 10 percent of US Dollar (average annual 5.6 percent),The memory of this year is bitter for the activists of this market and only the housing market has a significant  correlation with the capital market, and at around 17 percent negative rates, it was still at the bottom of the parallel market return table.

But the evolutions in the Banking market in 2016-17 were so extensive and complex! After the agreement was reached on reducing banking profit rates by  March 20th, 2016, which resulted in a rate of 18 percent for one-year deposits and 10 percent rate for day-to-day deposits and again, on June 2016, the Banks’ agreed rate on bank interest rates declined, and the annual deposit interest rate was set at 15 percent. But in practice, the unhealthy competition between banks and credit institutions in attracting deposits increased the rate of banking deposits so that some banks at a higher rate of 24 percent were attracted to the deposit. This unhealthy competition, coupled with an increase in toxic assets of banks, has created imbalances in assets and liabilities as well as income and expenses of the Bank, so that most banks are placed in very difficult and complicated conditions that if they continue, some will be on the brink of bankruptcy.
 

In 2016-17, the amount of banks’ deposits (IRR) amounted to trillion IRR 12,140.6 which grew by 23.9 percent compared to the end of last year, meanwhile, the monetary base of the country grew by 17.2 percent, which grew 0.3 percent more than last year but the increasing coefficient of money has grown by 5.1 percent, down from 6.1 points less than last year. Despite the special conditions of the banking industry last year, Ansar Bank has become a valuable and committed bank in the year to meet the objectives of the resistance economy, With its collaborative jihad efforts, while unveiling the second phase document of the evolutionary plan with resistance economy approach, it tried to use all its capacities to advance the objectives of the Bank.

Obtaining the confirmation of Central Bank of Islamic  Republic of Iran for the timely holding of the annual General Assembly, paying the highest profit margin  among stock exchange banks, as well as many other honors, including the first place of information  transparency among the banks in 2016-17, express the success of the Bank in different areas. The Board of Directors has planned for Resistance Economy policies (Production and Employment) in the next year not only to meet the goals and plans of the second phase of the Bank’s evolutionary plan, but also can be among the Banks of the country as the top Islamic bank.
 

 

 

 

Managing Director