Business And Markets

Banks Lend $34 Billion in 6 Months

Banks Lend $34 Billion in 6 Months Banks Lend $34 Billion in 6 Months

Banks and credit institutions in Iran lent 3,821 trillion rials ($34.1 billion) during the first six months (March 21-Sept. 22) of the current fiscal year. 
The figure was 789.3 trillion rials ($7 billion) more than the first six months of last year, indicating an annual growth of 26%, according to a report published on the Central Bank of Iran website. 
As usual, the largest share went to enhance the working capital of manufactures. Lending in this category amounted to 2,111 trillion rials ($18.8 billion) or almost 55% of the total loans. 
Working capital loans increased by 250.5 trillion rials compared to the same period last year, indicating a year-on-year hike of 13.5%. 


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