Business And Markets

Bank Loans Up 71% in Q1

Bank Loans Up 71% in Q1
Bank Loans Up 71% in Q1

Banks and credit institutions paid 4976.9 trillion rials ($20.2 billion) in loans to businesses in during the first three months of the current fiscal year that started on March 21.
The lending increased by 2071.7 trillion rials ($8.42b) or 71.3% compared to the same period last year, according to data released by the Central Bank of Iran.
As is the norm, working capital loans topped the list with 3466.4 trillion rials ($14.09b) accounting for 69.6% of the total.
Companies involved in mining and industries were the main recipients of working capital loans at 1269.7 trillion rials ($5.16b) representing 36.6% of total. Part of the growth could be linked to inflation and devaluation of the national currency,


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