50799
Banks Lend $54b in 5 Months
Economy, Business And Markets

Banks Lend $54b in 5 Months

The Iranian banking sector’s total lending amounted to 1.7 quadrillion rials ($54 billion) in the five months to August 20 -- a 39% growth compared with the corresponding period last year.
Services, as the top borrower, took 769.5 trillion rials ($24.4 billion) worth of loans during the period. Meeting service providers’ need for working capital was the purpose of 58.2% of the loans, Central Bank of Iran website reported on Wednesday.
Industries and mining sector took out some 502.9 trillion rials ($15.9 billion) since the beginning of the fiscal year in March, 87% of which was to meet working capital needs. Starting a new business or expanding their operations were the other reasons for industries to borrow from the banks.
Banks also paid about 147 trillion rials ($4.6 billion) to the housing and construction sector, 32.6% of which were in the form of mortgages. Home renovation mortgage accounted for 17.7% of all loans to the housing sector.
Data released by the CBI indicates that 8% of loans was in the form of startup business loans, whereas working capital loans accounted for 67.7% of the total.
From the total credits, only 3.2% went into mortgages.

Short URL : https://goo.gl/u1vGSk
  1. https://goo.gl/rV52s3
  • https://goo.gl/TUwV7V
  • https://goo.gl/ZbG9qh
  • https://goo.gl/cR4Cig
  • https://goo.gl/8AJ8lE

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...

Trending

Googleplus