Loans

Bank loans to economic sectors increase over 59%

Bank loans to economic sectors increase over 59%
Written by Publishing Team

TEHRAN – The Iranian banking system paid 20,195 quadrillion rials (more than $73 billion) of facilities to domestic economic sectors in the first nine months of the current Iranian calendar year (March 21-December 21, 2021), registering a 59.5 percent increase over the same period of the previous year.

According to data provided by the Central Bank of Iran, the country’s banking system paid 12,633 quadrillion rials (about $45.69 billion) of facilities to various economic sectors in the first nine months of last year.

Reportedly, working capital loans paid to various economic sectors in the mentioned nine months exceeded more than 13.424 quadrillion riyals (about $48.54 billion), which represents 66.5 percent of the total facilities provided.

During the mentioned period, the country’s mining and industrial sector received more than 4,834 quadrillion riyals (about $17.48 billion) in working capital loans, which represents 79.2 percent of the total of these facilities.

Iranian banks paid 17,274 quadrillion rials (more than $62.4 billion) of facilities to domestic economic sectors in the first eight months of the current Iranian calendar year (March 21-November 21, 2021), which is also 59.2 percent more than the same figure. period in the previous year.

And based on the data of the Central Bank of Iraq, the working capital loans paid to the various economic sectors in the aforementioned eight months were higher than 11.48 quadrillion riyals (about $41.51 billion), which represents 66.5 percent of the total facilities provided.

Over the past three years, CIB has cooperated with the Ministry of Industry, Mining and Trade to implement a program based on providing banking facilities to small and medium-sized enterprises (SMEs) and semi-manufactured enterprises.

The said facilities are mainly provided for refurbishing machines, equipping production units or completing semi-finished projects.

The said program started in February 2019 and since then more than 12,124 productive units and SMEs have registered to receive the mentioned loans.

EF/MA

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