EghtesadOnline: Sina Bank was the most successful in focusing on small businesses, as the volume of bank guarantees supporting them has witnessed a significant rise.
Bank guarantees issued by Sina to small businesses have had a dramatic growth during the tenure of the current government, the website of Sina Bank announced. Sina paid one of the largest volumes of loans through guarantees in the last Iranian year (ended March 20, 2017), according to a report published earlier by the Ministry of Industries, Mining and Trade. Most of these guarantees were allocated to underprivileged regions. While the previous administration headed by Mahmoud Ahmadinejad issued only 24 guarantees for SMEs, the current government focused on small businesses that were already active when it came to office and issued 106 guarantees to support development plans in the 42-month period by the end of the previous fiscal year (March 2016), according to Financial Tribune.