Iranian Banks' Loans to Knowledge-Based Firms Exceed $261m in H1

EghtesadOnline: The banking system lent more than 36 trillion rials ($261.8 million) to 1,043 knowledge-based companies during the first half of the current fiscal (March-September), the Central Bank of Iran said.

News ID: ۷۴۶۱۵۲

27 October 2018

According to the regulator’s website, each knowledge-based company received 35.2 trillion rials ($256,000) on average during the six-month period.

Private banks and credit institutions had the lion’s share among lenders with 14.3 trillion rials ($104 million), followed by privatized banks with 12 trillion rials ($88.2 million) and state-owned banks with 10.2 trillion rials ($74.5 million).

Accordingly, Bank Mellat and Bank Melli Iran topped the list of lenders during the period under review with 6.57 trillion rials ($47.8 million) and 5 trillion rials ($36.6 million) respectively, Financial Tribune reported.

The total amount of loans to knowledge-based companies during the year to September 22 totaled 61.83 trillion rials ($449.72 million). Privatized banks were the top lenders again with 25 trillion rials ($182.19 million), followed by private banks and credit institutions with 22.32 trillion rials ($162 million), and state-owned banks with 14.46 trillion rials ($105 million).

Each company has received 56.1 billion rials ($408,000) on average. The highest amount of loans belongs to Bank Melli with 10.6 trillion rials ($77.2 million), Bank Mellat with 9.5 trillion rials ($69.4 million) and Bank Saderat with 9 trillion rials ($65.9 million).