Iran Knowledge-Based Firms Borrow $384m
Banks lent 51.9 trillion rials ($384 million) to 626 knowledge-based companies by the end of the third quarter of the current fiscal on December 21.
According to data published on the Central Bank of Iran website, each company on average borrowed 83 billion rials ($615,000) during the period.
Private banks and credit institutions gave 19.8 trillion rials ($147 million) followed by privatized banks at 19.1 trillion rials ($141 million), accounting for 38% and 37% of the total lending respectively. State companies contributed 12.9 trillion rials or 25% of the total.
A large portion of the loans came from Bank Saderat Iran and Bank Mellat. By the end of Q3, BSI had paid 9.9 trillion rials and the share of Mellat was 8.5 trillion.
In annual terms, the statistics show aggregate loans to knowledge-based companies reached 69.8 trillion rials during the period from Dec.21 2017 to Dec.21 2018. Privatized banks, private banks, credit institutions and state banks paid 27.2 trillion rials, 25.2 trillion rials, and 17.4 trillion rails respectively.
According to the regulator, the total loan balance for knowledge-based companies by the end of Q3 was 70.1 trillion rials ($520 million). The current balance amounted to 53.2 trillion rials ($393 million), accounting for about 75% of the total loan balance.
source: Financial Tribune
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