Bank Lending Up 22%
Economy, Business And Markets

Bank Lending Up 22%

The banking sector lent a total of 4.17 quadrillion rials ($137 billion) during the fiscal year that ended on March 19 -- a growth of 22.2% compared to the previous year. A press statement from the Central Bank of Iran Monday shows that 63% of banks’ loans were given to businesses to boost their working capital, a 27.2% year-on-year increase. Services continue to top the list of borrowers and accounted for 38.29% of the total loans, i.e. 1.59 quadrillion ($52.7 billion) rials. Industries and mining sector also took out 1.21 quadrillion rials ($40.2 billion) worth of loans last year, 82.2% of which were paid for meeting the sector’s need for working capital.

Short URL : http://goo.gl/efpRqk
  1. http://goo.gl/MqU1BT
  • http://goo.gl/3ANpor
  • http://goo.gl/ghqXWH
  • http://goo.gl/vrZYU1
  • http://goo.gl/GSSMbw

You can also read ...

Iran to Send More Flour to Iraq via Russia Wheat Deal
Iran is negotiating a wheat import deal with Russia that would...
Forex Rates Tumble
The Central Bank of Iran’s measures, namely to issue...
Iran’s currency had lost a quarter of its value in six months, sliding to a record low of 49,000 last week.
Governor of the Central Bank of Iran Valiollah Seif defended...
$660m Allocated to Modernize Irrigation Systems
The government has allocated 31.17 trillion rials ($660...
Gov’t Earned 150% More From Tax Than Oil Last Fiscal
The government earned 150% more from tax than from oil in the...
Privatization Tally Tops $140m  Since March
Iranian Privatization Organization has sold over 6.84 trillion...
24 New Foreign Traders in Iran’s Capital Market
The Central Securities Depository of Iran issued 24 trading...
Parliament Okays Rise in Cigarette Tax
Cigarette tax will increase in the next fiscal year (starting...