Baku, Azerbaijan, Sept. 16
By Fatih Karimov– Trend:
The Iranian banking system has paid 2,082.4 trillion rials ($62.25 billion based on official exchange rate of $1 to 33,450 rials) in loans during the first five months of the current fiscal year (started March 20, 2017), the Central Bank of Iran (CBI) said Sept. 16.
The figure indicates a rise by 17.4 percent compared to the same period of preceding year, according to the report.
Over 549.3 trillion rials were paid in loans to various sectors in the fifth Iranian calendar month of Mordad (July 21-Aug. 22).
The country’s banks paid 848.507 trillion rials to the service sector during the five-month period.
Along with the service sector, the highest amounts of loan have been paid to industry and mining (627.654 trillion rials), commerce (299.396 trillion rials), housing (153.869 trillion rials) and agriculture (151.345 trillion rials) sectors.
Iran’s banking system paid 5,483.7 trillion rials in loans to various sectors during the last fiscal year (March 20, 2016 to March 19, 2017), 31.4 percent more than in the preceding year.
Iran has been struggling with bad loans over the past several years.