Bank loans to economic sectors up 50% in a quarter on year

July 29, 2020 - 12:4

TEHRAN- Iranian banking system has paid 2.247 quadrillion rials (about $53.5 billion) of facilities to domestic economic sectors during the first quarter of the current Iranian calendar year (March 20-June 20), which was 50.5 percent more than the figure of the first quarter of the previous year.

According to the data provided by the Central Bank of Iran (CBI), working capital loans paid to different economic sectors were 1.406 quadrillion rials (about $33.476 billion) accounting for 62.6 percent of the total provided facilities in the first quarter, IRNA reported.

As reported, the total working capital loans provided in the mentioned period increased by 59.2 percent compared to the figure for the same period of time in the past year.

The Iranian banking system has paid 9.749 quadrillion rials (over $232 billion) of facilities to domestic economic sectors in the past Iranian calendar year 1398 (ended on March 19), registering a 26-percent rise from its preceding year.

Working capital loans paid to different economic sectors were above 5.261 quadrillion rials (about $125.26 billion) accounting for 54 percent of the total provided facilities in the said period.

The total working capital loans provided in the mentioned period increased by 21.8 percent compared to the figure for the preceding year 1397.

During the said period, the country’s mining and industry sectors received 2.167 quadrillion rials (about $51.59 billion) in the form of working capital loans, accounting for 41.2 percent of the total such facilities.

According to CBI, the country’s banking system offered 7.737 quadrillion rials (about $184.2 billion) facilities to domestic economic sectors in the Iranian calendar year of 1397 (ended on March 20, 2019), 26-percent more than the figure for its previous year.

Working capital loans paid to different economic sectors was above 4.319 quadrillion rials (about $102.8 billion) accounting for 55.8 percent of the total provided facilities in the said year, registering a 14-percent increase from its previous year.

MA/MA

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