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Industry’s Share of Loans Grows

Industry’s Share of Loans GrowsIndustry’s Share of Loans Grows

A new report by the Central Bank of Iran shows the industry and mining sector’s share of commercial banks’ loans grew the most in the first five months of the current Iranian year (which started March 20), while the agriculture’s share decreased the most.

According to the report on commercial banks’ performance, Iranian commercial banks paid 363 trillion rials ($13.6 billion) in credit facilities to the industry and mining sector, showing a 2.7 percent increase compared to the similar period last year.  

In contrast, the agriculture sector received only 69 trillion rials in credit facilities, down by 3 percent compared to the same period last year. The sector received the least amount of total credit facilities offered by banks.  

The CBI report indicates a 40.5 percent growth in the amount of total credit facilities paid by banks to various sectors.

The biggest receiver of the total 1,135 trillion rials ($42.6 billion) in bank facilities is service sector, accounting for more than one third of the facilities by 401 trillion rials ($15 billion).

While credit facilities received by trade sector show a slight increase of 0.6 percent compared to last year, those received by the housing industry decreased 0.1 percent.

Financialtribune.com