Economy, Business And Markets

Services Top Borrower

Services Top BorrowerServices Top Borrower

Banks lent a total of 2.19 quadrillion  rials ($72.9 billion) by the end of the eight month of the Iranian fiscal year (October 21), an increase of 6.3% or 129.5 trillion rials ($4.3 billion) compared to the same period last year. Central Bank of Iran data published on Wednesday, shows that the services sector still tops the list of borrowers as it received 825 trillion rials ($27.3 billion), marking a year-on-year growth of 0.9%. Industries and mining, and housing sectors accounted for 29.2% and 10.5% of the total loans. Almost 1.39 quadrillion rials ($46.1 billion) in loans or 63.3% of the total lending, was offered to help meet the pressing liquidity needs of businesses -- an 11.5% annualized growth.