Baku, Azerbaijan, June 20
By Umid Niayesh - Trend:
The Iranian banking system paid some 689.5 trillion rials (some $16 billion based on official exchange rate) in loans during the first two months of the current fiscal year (March 20-May 21).
The figure indicates a rise by 21 percent compared to the same period of the preceding year, the Central Bank of Iran (CBI) said June 20.
A huge share of the paid loans was for supply of the working capital of various sectors. The working capital shared 65.4 percent or 451 trillion rials of the paid loans in the 2-month period. Loans allocated for working capital registered a rise by 17 percent compared to the same months of the preceding fiscal year.
The industry and mining sector received a lion's share of paid loans for supplying the working capital. Over 40 percent of the loans in this field was allocated to the industry and mining sector (181 trillion rials).
Only 7 percent of the loans by banks were allocated to establish new units (48.3 trillion rials), while 6 percent of the assets were for development, and 1.4 percent were for repairs.
The highest value of the paid loans went to service sector (41 percent), followed by industry and mining sector (31 percent), commerce (14 percent), housing (8 percent) and agriculture (7 percent).
The country’s banks paid over 280 trillion rials to the service sector during the 2-month period. Over 212 trillion rials of loans were paid to industry and mining sector, 97 trillion rials - to commerce sector, 53 trillion rials - to housing sector, and 46 trillion rials - to agriculture sector.
Details of the paid loans to various sectors (in billion rials)
|
Agriculture |
Industry & mining |
Housing |
Commerce |
Service |
Others |
Total |
share |
|
|
Establishing new units |
7,130 |
9,170 |
4,553 |
2,878 |
24,535 |
14 |
48,280 |
7 |
|
Supplying the working capital |
32,649 |
181,243 |
9,432 |
72,828 |
154,506 |
221 |
450,879 |
65.4 |
|
Repair |
76 |
206 |
5,445 |
297 |
3,729 |
2 |
9,755 |
1.4 |
|
Development |
2,514 |
16,207 |
6,402 |
3,496 |
13,171 |
378 |
42,168 |
6.1 |
|
Buying goods |
1,095 |
861 |
1,102 |
4,985 |
29,711 |
37 |
37,791 |
5.5 |
|
Buying houses |
123 |
432 |
24,255 |
1,152 |
3,429 |
67 |
29,459 |
4.3 |
|
Others |
2,487 |
4,326 |
2,045 |
11,205 |
51,089 |
6 |
71,158 |
10.3 |
|
Total |
46,075 |
212,446 |
53,234 |
96,841 |
280,170 |
725 |
689,491 |
100 |
Iran’s banking system paid 6,139 trillion rials in loans to various sectors during the fiscal year to March 2018, 12 percent more than in the preceding year.
The figure amounted to 5,483.7 trillion rials in the fiscal year to March 2017, 31.4 percent more year-on-year.
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