Economy, Business And Markets

Bank Lending to Economic Sectors Up 14 Percent

Bank Lending to Economic Sectors Up 14 PercentBank Lending to Economic Sectors Up 14 Percent

Iranian banks and credit institutions allocated 257.2 trillion rials ($6.13 billion) in credits during the first month of the current fiscal year to April 20, which were handed out in the form of 204,935 loans.
According to the Central Bank of Iran’s latest report published on its official website, the amount of loans extended during the month was 33.3 trillion rials ($792.85 million) or 14.9% higher compared with the same period of last year.
As is the norm, the services sector received the biggest portion of loans at more than 115.30 trillion rials ($2.74 billion) during the period. The sector received 112,044 loans.
Once more, the industrial and mining sector was second and received 7,264 loans amounting to more than 73.80 trillion rials ($1.75 billion). It was followed by the trade sector that saw 29,969 loans worth more than 39.45 trillion rials ($939.28 million) delivered to applicants, and the housing and construction sector that obtained 20 trillion rials ($476.19 million) in facilities handed out in the form of 33,167 loans. 


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