Business And Markets
0

Banks Boost Lending 

Loans for working capital accounted for the major part of the lending during the first half of the year with 67% of the total
Banks Boost Lending 
Banks Boost Lending 

Banks gave 19,540 trillion rials ($59.4 billion) in loans since the beginning of the fiscal year in late March -- up 49% on the same period last year, head of the Monetary and Credit Affairs Bureau of the Central Bank of Iran said.
"Loans for working capital accounted for the major part of the lending during the first half of the year with 67% of the total," Mohammad Nadali was quoted by IBENA as saying.
Subsidized loans also accounted for a portion of lending portfolio this year, Nadali said.
“A big part of the loans were given for marriage purposes and childbirth.  Over the period under review, 534,000 marriage loans worth 735 trillion rials ($2.23 billion) were taken out,  55% higher from the same period last year plus 431 childbirth loans worth 170 trillion rials ($517.03 million)”.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com