Baku, Azerbaijan, Dec. 20
By Fatih Karimov – Trend:
The Iranian banking system paid 3,574.3 trillion rials (Some $100 billion based on official exchange rate of $1 to 35,700 rials) in loans during the first eight months of the current fiscal year (started March 20, 2017).
The figure indicates a rise by 9.6 percent compared to the same period of the preceding year, the Central Bank of Iran (CBI) said Dec. 20.
Over 438.43 trillion rials were paid in loans to various sectors in the eighth Iranian calendar month of Aban (-Oct. 22-Sept. 22).
The highest value of the paid loans went to service sector (40 percent), followed by industry and mining sectors (30 percent), commerce (14 percent), housing (9 percent) and agriculture (7 percent).
The country’s banks paid 1,432.86 trillion rials to the service sector during the 8-month period.
Over 1,064.67 trillion rials of loans were paid to industry and mining sectors, 507.83 trillion to commerce sector, 304.22 trillion rials to housing sector and 261.84 trillion rials to agriculture sector.
Iran’s banking system paid 5,483.7 trillion rials in loans to various sectors during the last fiscal year (March 20, 2016 to March 19, 2017), 31.4 percent more than in the preceding year.
Iran has been struggling with bad loans over the past several years.