Popular Credit achieves a growth of more than 130% with limited income loans in 2021

Damascus-SANA

The People's Credit Bank achieved a significant growth in the value of loans granted to people with limited incomes last year, which were estimated in total at about 60 billion Syrian pounds compared to the previous year, at a rate of more than 130 percent.

According to the bank’s work indicators, the number of borrower dealers has increased significantly compared to the year 2020, to more than 46,000 borrowers, especially after the bank’s board of directors took a decision that included opening the ceiling of loans for low-income workers in the state, including civilians, military and retirees, provided that the loan does not exceed 5 million pounds.

It is mentioned that the bank’s board of directors, through the decisions taken in the year 2021, allowed the acceptance of the pensioner’s guarantee on the insurance and pension system, and the possibility that there be one guarantee for the borrower, provided that it covers the loan installment, and that if the loan value exceeds two million pounds, two personal guarantees are requested from permanent workers or retirees on Insurance and pension system or both.

Waseem Al-Adawi

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