Tehran, Iran, Feb. 4
By Kamyar Eghbalnejad – Trend:
The value of loans allocated by the Export Development Bank of Iran over the current fiscal year (starting March 20) has experienced a huge growth.
“The value of the allocated loans has increased by 52 percent as compared to the same time of last year,” Ali Salehabadi, CEO of Export Development Bank of Iran, told reporters on Feb. 4.
He also added that the number of loans has increased by 13.4 percent to reach 2,200.
This is while the volume of deposits in Export Development Bank has increased by 76 percent to hit 2.4 trillion rials (about $726 million).
The Iranian banking system paid 4,036.6 trillion rials (some $110 billion based on official exchange rate of $1 to 36,550 rials) in loans during the first nine months of the current fiscal year.
According to the latest report by the Central Bank of Iran, the figure indicates a rise by 5.5 percent as compared to the same period of the preceding year.
Only 9.4 percent of the loans by banks were allocated to establish new units (379.85 trillion rials), while 4.6 percent of the assets were for development, and 2.7 percent were for repairs.
The highest value of the paid loans went to service sector (39.8 percent), followed by industry and mining sectors (29.3 percent), commerce (14 percent), housing (8.8 percent) and agriculture (8 percent).