Baku, Azerbaijan, May 2
By Khalid Kazimov - Trend:
The amount of loan facilities made available by Iranian banks to borrowers who are involved in the country's economic sector over the last Iranian calendar year (ended March 20) has increased by 22.2 percent year-on-year.
Iranian banks provided those involved in the country's economic sector with 4173.2 trillion rials in loan over the last year which has increased compared to 759.1 trillion rials (according to the official rate on May 2, one dollar makes 30,319 rials) in the preceding year, IRIB news agency reported.
This is while Iran's banking system has been struggling with bad loans in the past few years. Banks of Melli, Parsian, and Tejarat have the highest amount of bad loans in Iran.
A report by Central Bank of Iran indicates that Iranian banks' debts to the central bank reached 836.9 trillion rials by Jan. 20, 0.9 percent more year on year.