Iran: Bank loans to financial industries surge 45 percent| MENAFN.COM

Saturday, 04 February 2023 09:21 GMT

Iran: Bank loans to financial industries surge 45 percent


(MENAFN) Iranian banking system has compensated nearly 22.45 quadrillion rials (more than USD 63 billion) of services to local financial industries in the initial seven months of the present Iranian calendar year (March 21-October 22), recording a 45 percent surge from the same time span in the prior year, as reported by IRIB.

As stated by the representative of the Central Bank of Iran (CBI) Mostafa Ghamari-Vafa, more than 84 percent of the stated services have been handed to possessors of businesses and the rest have been compensated to natural persons.

During the last three years, CBI has been cooperating with the sector, Mining, and Trade Ministry for forcing a plan according to which bank services are supplied to small and medium-sized enterprises (SMEs) as well as half completed ventures.

The stated services are mostly supplied for renewing machinery, preparing output units, or finishing semi-completed ventures.

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