Banks paid an estimated 23,312 trillion rials ($66.02 billion) in loans in the first seven months of the current fiscal year (started in March 2022), registering 47.2% growth on the same period last year.
The Central Bank of Iran said on its website that individual borrowers accounted for 7,468 trillion rials ($21.15 billion) or 32% of the loans during the period. The major part ($44.8b) went to businesses.
Loans to individuals increased by 55% year-on-year, and to companies was 43.8% higher.
The report reflected on lenders' performance in allocating microloans, i.e. loans worth 2 billion rials or less. Banks processed 4,855 trillion rials ($13.7b) in microloans during the seven months -- 39.4% higher on the same period last year.
December 09, 2022 19:45
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Bank Lending Jumps 47%
Total outstanding loans, both non-performing and performing, climbed to 11,672.8 trillion rials ($33.06 billion) reaching 47,143.6 trillion rials ($133.5b) by October 22. That was 32.9% higher from the same period last year
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