Business And Markets

Banks Ramp Up Lending

Banks Ramp Up Lending
Banks Ramp Up Lending

Banks and credit institutions paid 13,959.9 trillion rials ($55.8 billion) in loans to businesses in ten months since the beginning of current fiscal year that ends on March 20. 
The amount was up by 6,774.5 trillion rials ($27b) or 94.3%, according to data released by the Central Bank of Iran. 
As is the norm, loans to boost working capital of manufactures accounted for the lion’s share with 8,374 trillion rials ($33.5b). Working capital loans went to mines, industries, housing, agriculture and the services sector accounting for 60% of the total. 


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