Business And Markets

Bank Loans Almost Double

Bank Loans Almost Double
Bank Loans Almost Double

Banks and credit institutions gave 12,199.4 trillion rials ($53 billion) in loans to economic sectors in the nine months since the beginning of the current fiscal year (March 20-Dec.20, 2020).
Compared with loans in the first three quarters of previous year, the figure increased by 5,936.7 trillion rials ($25.8b) or a whopping 94.8%, according to data released by the Central Bank of Iran. 
As is the norm, loans disbursed to boost working capital of manufactures accounted for the lion’s share with 7,214.7 trillion rials ($31.3b) including mines, industries, housing, agriculture and the services sector. Loans in this category accounted for 59.1% of the total. 


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.

Add new comment