Economy, Business And Markets

Bank Lending Improves

Bank Lending Improves Bank Lending Improves

Banks gave a total of 2.98 quadrillion rials ($98.2 billion) in loans during the ten months ending January 20, marking an increase of 10.4% or  282.1 trillion rials ($9.3 billion) compared to the same period last year. Central Bank of Iran data, published on Tuesday, show that the services sector still tops the list of borrowers as it received 1.12 quadrillion rials ($27.3 billion), accounting for 37.8% of the total loans. Industries and mining, and the housing sector accounted for 28.7% and 10.7% of the  loans, respectively.  Banks, during the month ending January 20, paid a total of 319.2 trillion rials ($10.5 billion) in loans the CBI said.