TEHRAN, Iran, Sep. 7
Trend:
Saderat Bank has paid $11 billion advances to production and 62 percent of the following sum has been provided to the production sector said the CEO of Saderat Bank, Trend reports citing IRNA.
Saderat Bank plans to improve the production cycle with innovative plans to guide the credit to producers and entrepreneurs and would increase gross domestic, Hojatollah Seyedi has indicated.
He noted that the following advances provided for the supply of basic martial, transportation, distribution, food industries, fish farming, agriculture, and related sections.
About 20 percent of advances assigned to public organizations and businesses that were considered as government debt payment, that provided in form of guaranteed purchase of wheat, construction of rural housing, support of individuals hit by flood and earthquake and business affected by a coronavirus, construction plans such as dams, highways, and water transportation plans.
About 70 percent of jobs created by bank's advances were in Small and Medium Enterprises Units and Saderat Bank is expected to pay $476 million advances with a 7 percent interest rate to these SME's that could be paid back by these businesses in 24 months.
Iran's Saderat Bank has provided innovative solutions to solve problems in the country considering the economic situation and the bank has paid more than $8 billion advances in form of credit in form of buying debt.
Bank has more than 20 million active customers and 30 million bank accounts and it has compensated $2 billion in accumulated losses in the stock market in 3 and half years.
