Financial Tribune - Banks and credit institutions lent 137.6 trillion rials ($860 million) to 1,108 knowledge-based companies in the last fiscal year that ended on March 19.

The figures indicate 74.5% hike on a year-year basis, according to a press release posted on the Central Bank of Iran website. Each company on average borrowed 124.2 billion rials ($777,500).

Three banks led the loan initiative. The privatized Bank Mellat and Bank Saderat Iran, and state-owned Bank Melli Iran together accounted for 43% of the loans.