3.6% Annual increase in bank loans for private sector

In August, bank loans to the private sector increased by 3.6% annually, while loans for car purchases recorded an 18.3% decline.

According to the State Bank’s data, the volume of bank loans to the private sector in August stood at 8,243 billion, compared to 7,960 billion in August last year, showing a 3.6% increase.

During this period, loans for car purchases amounted to 227 billion, which is 18.3% lower than the 278 billion loans issued in August last year.

Meanwhile, in a letter to the Governor of the State Bank, sugar mills demanded an extension of the loan repayment date to December 31, 2024, stating that mills must pay farmers within 15 days of receiving sugarcane.

It is not possible for them to clear 200 billion in loans by September 30; repayment will only be feasible if they are allowed to export excess stock.