Iran banking system pays $147B in loans in 11 months

By  Trend

The Iranian banking system paid ?4,775.8? trillion rials ($147.32 billion based on official exchange rate of $1=32,417 rials) in loans in the 11-month period from March 20, 2016, the Central Bank of Iran (CBI) said.

The figure indicates a rise by 37.1 percent compared to the first 11 months of the last Iranian fiscal year (March 20, 2015-Feb. 20, 2016).

Over $15.22 billion in loans were paid to the various sectors in eleventh Iranian calendar month of Bahman (Jan. 20-Feb. 20).

Iran has been struggling with bad loans over the past few years.