Knowledge-Based Firms Borrow $520m in 3 Months

Banks and credit institutions lent 127 trillion rials ($520 million) to 558 knowledge-based companies in the first three months (March 21-June 21) of the current fiscal year.
Data released by the Central Bank of Iran indicate borrowing increased a whopping 247% compared to the first quarter of last year.
Three banks topped the list. The privatized Bank Mellat and Bank Saderat Iran, and state-owned Bank Melli Iran together accounted for about 55% of the loans.
A large portion came from Bank Melli with 30.2 trillion rials ($123m). Bank Saderat and Bank Mellat gave 19.7 trillion rials ($80.4m) and 19.2 trillion rials, respectively.