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Iran's Central Bank discloses amount of loans issued for startup companies

Business Materials 28 April 2020 17:08 (UTC +04:00)
Iran's Central Bank discloses amount of loans issued for startup companies

BAKU, Azerbaijan, April 28

By Elnur Baghishov - Trend

Iranian banks and financial organizations issued loans worth $3.27 billion for startup companies in the country in the last Iranian year (from March 21, 2019 to March 20, 2020), Trend reports referring to the report by Central Bank of Iran (CBI).

According to the report, these loans were issued to 1,108 startup companies. On average, each company was paid $2.95 million in loans.

Most loans were issued by Mellat Bank ($671 million), Melli Bank ($504 million) and Saderat Bank ($471 million), CBI said.

During the last Iranian year (from March 21, 2019 to March 20, 2020), the amount of loans issued to various economic sectors in Iran increased by 26 percent compared to the same period preceding year (from March 21, 2018 to March 21, 2019).

Iranian banks and financial institutions have issued loans worth a total of $232 billion to various sectors in the last Iranian year.

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