Bank loans to economic sectors increase over 38%

TEHRAN – Iranian banking system has paid 36.69 quadrillion rials (over $79.7 billion) of facilities to domestic economic sectors in the first 11 months of the current Iranian calendar year (March 21, 2022-February 19, 2023), registering a 38.1-percent rise from the same period in the previous year.

According to the Central Bank of Iran (CBI), over 83.4 percent of the mentioned facilities have been provided to owners of businesses and the rest have been paid to natural persons, IRIB reported.

As reported, 75.3 percent of the total facilities paid to the owners of businesses have been in the form of working capital loans.

During the mentioned period, businesses active in the mining and industry sector received over 8.53 quadrillion rials (about $18.55 billion) in the form of working capital loans, accounting for 37.2 percent of the total such facilities.

Over the past three years, CBI has been collaborating with the Industry, Mining, and Trade Ministry for implementing a program based on which bank facilities are provided to small and medium-sized enterprises (SMEs) and semi-finished projects.

The mentioned facilities are mainly provided for renewing machinery, equipping production units, or completing semi-finished projects.

EF/MA

Original News : https://www.tehrantimes.com/news/483035/Bank-loans-to-economic-sectors-increase-over-38