Iranian banks pay over $35B in loans to domestic economic enterprises
Baku, Azerbaijan, Oct.5
By Fatih Karimov - Trend:
Iranian banks paid over $35 billion in loans to domestic economic enterprises in the first half of the current year.
The figure shows 40.5 percent rise compared to the same period in the previous year, Iran's IRNA news agency reported on October 5.
The current Iranian calendar year began on March 21.
Some 32 percent of the total loans were paid to the industry and mining sector.
Abdonnaser Hemmati, chairman of the coordination council of Iranian state-run banks, said on September 15 that a list of 570 major defaulters has been submitted to the judiciary system, Iran's Mehr news agency reported.
He put the value of the bad loans at $27 billion.
This year, $87 billion will be paid in loans and other financial facilities, he said.
Iran's economy minister Ali Tayyebnia said on August 19 that a special legal complex will be set up to deal with bank loan defaulters.
The administration owes more than $21.5 billion to the national banking system, Iran's Fars news agency reported.
USD exchange rate in Iran is currently about 32,000 rials.