April 13, 2024

Bank loans to economic sectors increases over 26%

TEHRAN- Iranian banking system has paid 38.6 quadrillion rials (about $77.22 billion) of facilities in the first nine months of the current Iranian calendar year (March 21-December 21, 2023), registering a 26.4 percent rise from the figure in the same period of the previous year, the Central Bank of Iran (CBI) announced.

As IRIB reported, of the total facilities, 31.6 quadrillion rials (about $63.31 billion) equivalent to 82 percent, was paid to the business owners (real and legal), and 6.95 quadrillion rials (about $13.9 billion) equivalent to 18 percent, to the final consumers (households).

During the said period, businesses active in the mining and industry sector received over 9.35 quadrillion rials (about $18.7 billion) in the form of working capital loans, accounting for 38.8 percent of the total such facilities.

Over the past few years, CBI has been collaborating with the Industry, Mining, and Trade Ministry to implement 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.


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