Economy, Business And Markets

Bank Loans Reach $145b in Fiscal 2017-18

Bank Loans Reach $145b in Fiscal 2017-18Bank Loans Reach $145b in Fiscal 2017-18

Iran’s economic sectors received a total of more than 9.35 million counts of loans valued at 6.13 quadrillion rials ($145.95 billion) from banks and credit institutions during the previous fiscal year that ended on March 20.
According to the Central Bank of Iran that disclosed the figure in its latest report published on its official news website, the aforementioned figure is indicative of a 12% rise amounting to 655.5 trillion rials ($15.6 billion).
The services sector once again absorbed the highest volume of loans last year at more than 2.52 quadrillion rials ($60 billion). These facilities were allocated in the form of more than 5.21 million counts of loans.
The industrial and mining sector ranked second with more than 1.74 quadrillion rials ($41.42 billion) worth of 284,330 loans. This puts the average of each loan dedicated to the sector at about 6.127 billion rials ($145,880), the highest among all sectors.
The trade sector received more than 1.05 million loans that exceeding 851.72 trillion rials ($20.27 billion). This brings the average amount of each loan handed out to the sector to 485 million rials ($11,548).


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