Loans Rise 50% to $33b


Banks and credit institutions gave 9,007.8 trillion rials ($33 billion) in loans in the first five months of the current fiscal year (March 21-August 22).
Lending was 51.3% or 3,054.9 trillion rials ($11b) higher compared to the corresponding period of last year, the Central Bank of Iran reported.
As always, a big segment of money went for working capital accounting for 67.8% or 6,103.6 trillion rials ($22.5b) of all lending in the five months.
Mineral and industrial companies were the main recipients of the working capital loans, borrowing 2,191.8 trillion rials ($8b) or 35.9% of the total in this category.
Credit to mines and industries stood at 2,755.6 trillion rials ($10b) in the period.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Source link


Please enter your comment!
Please enter your name here