BAKU, Azerbaijan, September 11. The value of the interest-free loan provided by Keshavarzi Bank of Iran increased by 92 percent during the five months of the current Iranian year (from March 20 through August 21, 2024) compared to the same period of last year (from March 21 through August 22, 2023), the statement of Iran's Keshavarzi Bank said, Trend reports.
Keshavarzi Bank issued interest-free loans worth 75.4 trillion rials (about $177 million) to 50,000 applicants during five months.
The share of interest-free loans among the credits granted by Keshavarzi Bank amounted to 15 percent for five months.
Iran's Keshavarzi Bank operates mainly in the agricultural sector.
To note, Iranian banks extended loans worth about 13.3 quadrillion rials (about $32.9 billion) during the four months of the current Iranian year (from March 20 through July 21, 2024). The loan extended by Iranian banks increased by 18.3 percent in four months compared to the same period of last year (from March 21 through July 22, 2023).