Economy, Business And Markets

Banks Extend Loans Worth $106 Billion in 11 Months

Banks Extend Loans Worth $106 Billion in 11 MonthsBanks Extend Loans Worth $106 Billion in 11 Months

The Central Bank of Iran has released its latest report on loans allocated by lenders, which show that the services sector again attracted the highest share while a majority of loans were doled out for providing working capital.
The latest report published by the monetary regulator shows that banks and credit institutions allocated more than 5.19 quadrillion rials ($106.68 billion) in loans to various sectors during the first 11 months of the current fiscal year (started March 21, 2017). The amount was doled out in the form of more than 8.25 million loans.
Compared with the similar period of last year when more than 4.18 quadrillion rials ($85.92 billion) worth of loans were allocated, bank facilities in the current fiscal year registered an 8.8% increase.


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