Iran banking system pays $17B in loans in 2 months

Business Materials 19 June 2017 10:20 (UTC +04:00)

Baku, Azerbaijan, June 19

By Fatih Karimov – Trend:

The Iranian banking system has paid 569.7 trillion rials ($17.54 billion based on official exchange rate of $1=32,468 rials) in loans during the first two months of the current fiscal year (started March 20, 2017), the Central Bank of Iran (CBI) said June 19.

The figure indicates a rise by 16.4 percent compared to the preceding year, according to the report.

Over 345.79 trillion rials in loans were paid to the various sectors in second Iranian calendar month of Ordibehesht (Apr. 20-May 21).

The country’s banks paid 230.287 trillion rials to the service sector during the 2-month period.

Along with service sector, the highest amounts of loan have been paid to industry and mining (187.541 trillion rials), commerce (64.65 trillion rials), housing (43.195 trillion rials) and agriculture (43.794 trillion rials) sectors.

Iranian banking system paid ‎5,483.7‎ trillion rials of loans to various sectors during the last fiscal year (March 20, 2016-2017), 31.4 percent more than the previous year.

Iran has been struggling with bad loans over the past several years.