Business And Markets

Bank Loans Surge

Bank Loans Surge
Bank Loans Surge

Banks paid some 1,812 trillion rials ($3.48 billion) in loans in the month to April 22 -- up 12.7% on the year before.
The Central Bank of Iran said on its website that individual borrowers accounted for 198 trillion rials ($380 million) or 10.9% of the borrowing while businesses accounted for the major share during the month -- 1,614 trillion rials ($3.1 billion) or 89.1%. 
Regarding the share of various sectors, CBI data show the industrial and mining sector took 37.4% of the total and services companies 43.5%. 
Most loans to business owners were to help meet their working capital needs (81.4%). Nearly 13.8% of the total went for starting businesses while expanding business was the reason given for 3.6% of the loans. 
Nearly 48.6% of individuals borrowed to buy goods. Marriage loans, emergency (interest-free) loans and mortgages were the other types of borrowings. 


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