Economy, Business And Markets

Lending Plan for Real Sectors

Lending Plan for Real Sectors  Lending Plan for Real Sectors

Bank Melli Iran has plans to offer loans to sectors that contribute to national growth rates, raise export levels and create jobs in this fiscal year that started on March 20, said Abdolnasser Hemmati, BMI chief executive, on Wednesday. Bank Melli will focus on promoting “real economic sectors” like industries, agriculture and housing as well as the production sector, for which a special lending plan has been prepared, IRNA reported. The bank also wants to sell the “remainder of its excess assets, reduce non-performing loans and issue credit cards.”  Elaborating on the lender’s performance in the previous fiscal year,  Hemmati said it’s resources grew by 24% while none-performing loans dropped to less than 7%. Most stat-owned banks and lending institutions are saddled with billions of dollars in soured assets and restructured loans.