Bank Business Loans Cross $99b

Iranian banking system doled out 3,825 billion rials ($99.77 billion) to various business sectors during the nine months to December 21, marking a 43.5% growth compared with the same period of last year. The latest data released by the Central Bank of Iran also show that the services sector accounted for about 40% of the total paid loans during the period, with more than 3 million businesses receiving loans from the banking system. Industries and mining, and trade sectors came next, accounting for 29% and 14% of the loans, respectively. The majority of businesses took out the money to meet their needs for working capital. Working capital loans accounted for 81% of the total credits offered to the industries and mining sector.