INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Iran bank loans to economic sector rise 58%

Bank loans to the economic sector in Iran have risen 58% so far this year.
  • Working capital loans to different economic sectors in the six months were above 8.376 quadrillion rials (about $199.4 billion)
  • According to the data provided by the Central Bank of Iran, this accounted for 67.5 percent of the total provided facilities

The Iranian banking system has paid 12.41 quadrillion rials (over $295.49 billion) of facilities to domestic economic sectors in the first six months of the current Iranian calendar year (March 21-September 22), local reports have said.

This amount is 57.9 percent higher from the amount in the same period from the previous year, said the local reports.

According to the data provided by the Central Bank of Iran, working capital loans paid to different economic sectors in the mentioned six months were above 8.376 quadrillion rials (about $199.4 billion), accounting for 67.5 percent of the total provided facilities.

During the same period, the country’s mining and industry sector received over 2.947 quadrillion rials (about $70.17 billion) in the form of working capital loans, accounting for 35.2 percent of the total such facilities.

In September, the CBI had announced that over 9 quadrillion rials (over $214.47 billion) of facilities were paid to various economic sectors in the first five months of the current Iranian calendar year (March 21-August 22), registering a 51.3-percent rise from the same period in the previous year.

According to CBI, the country’s banking system offered 18.989 quadrillion rials (about $452.1 billion) facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended on March 20), 94.8-percent more than the figure for its preceding year.