Iran banking system’s loans increase by 45%
Baku, Azerbaijan, Nov. 6
By Fatih Karimov – Trend
The Iranian banking system paid 2,329 trillion rials ($1=31,795 rials based on official exchange rate) in loans in the six-month period from March 20, 2016, the Central Bank of Iran (CBI) said Nov. 6.
The figure indicates a rise by 45.4 percent compared to the first six months of last Iranian fiscal year (March 20-Sept. 21, 2015).
Over 555.3 trillion rials in loans were paid to the various sectors in sixth Iranian calendar month of Shahrivar (Aug. 21-Sept. 21).
The country’s banks paid 960.7 trillion rials to service sector during the 6-month period.
Along with service sector, the highest amounts of loan have been paid to industry and mining (653.15 trillion rials), commerce (319.96 trillion rials), housing (224.77 trillion rials) and agriculture (169.19 trillion rials) sectors.
Earlier, the CBI Chief Valiollah Seif, briefing reporters on the latest economic developments in the country, forecasted that the country will hit 5-percent economic growth by March 20, 2017.
Iran has been struggling with bad loans over the past few years.