Bank Saderat Iran's Industrial Sector Lending Rises 72 Percent to 72.3 Trillion Tomans in Spring 1405

According to Bourse News, Bank Saderat Iran extended more than 723,000 billion rials (72.3 trillion tomans) in facilities to the industrial sector in the first quarter of the Iranian year 1405 (spring, through the end of Khordad), up more than 72 percent from the same period of 1404. The bank said most of the financing went toward working capital for manufacturing units.

The bank said that by the end of Khordad 1405, compared with the same period a year earlier, about 68 percent of Iran's provinces, along with west and east Tehran, saw growth of more than 58 percent in industrial facilities received, with South Khorasan, North Khorasan, Sistan and Baluchestan, and Ilam among the underserved provinces posting the largest gains. The bank described the trend as part of special credit packages for factories damaged in the war, launched this year alongside grace periods for overdue installment payments.