Baku, Azerbaijan, July 17
By Fatih Karimov– Trend:
The Iranian banking system has paid 1,013.6 trillion rials ($31 billion based on official exchange rate of $1=32,638 rials) in loans during the first three months of the current fiscal year (started March 20, 2017), the Central Bank of Iran (CBI) said July 17.
The figure indicates a rise by 8.5 percent compared to the preceding year, according to the report.
Over 443.9 trillion rials in loans were paid to the various sectors in third Iranian calendar month of Khordad (May 21-June 21).
The country’s banks paid 413.814 trillion rials to the service sector during the 3-month period.
Along with service sector, the highest amounts of loan have been paid to industry and mining (327.693 trillion rials), commerce (125.573 trillion rials), housing (74.682 trillion rials) and agriculture (71.354 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.