Business And Markets

Banks Lend $4.7 Billion in 1 Month

Mining and industrial firms were the main recipients of working capital loans with 420.3 trillion rials ($1.4b), accounting for 87.1% of the total 482.5 trillion rials in loans to the key sector
Banks Lend $4.7 Billion in 1 Month
Banks Lend $4.7 Billion in 1 Month

Iranian banks and credit institutions gave 1,426.9 trillion rials ($4.7 billion) in loans in the first month of the present fiscal year (March 21- April 21). 
The loans were up 22.8% or 265.3 trillion rials ($884 million) from the corresponding period last fiscal year, according to data released by the Central Bank of Iran. 
Drawing on data from banks posted on Samat platform, the CBI for the first time distinguished loans to businesses and those given to households.  
Samat is an electronic platforms to control lending and is the Persian acronym “Centralized Database for Loans and Liabilities”. 
Accordingly, companies took out 1,312.7 trillion rials ($4.3b) of the total loans and households the rest, accounting for 92% and 8% of the total lending, respectively. 


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