BAKU, Azerbaijan, March 12. Loans provided by Iranian banks to the service sector over 11 months of the current Iranian year (from March 20, 2024, through February 18, 2025) have increased by 20.2 percent compared to the same period last year (from March 21, 2023, through February 19, 2024).
The data obtained by Trend from the Central Bank of Iran shows that the country's banks issued around 19 quadrillion rials (about $32.6 billion) in loans to the services sector in the reporting period. This marks an increase from the previous year's 15.8 quadrillion rials (about $27.2 billion) in the same timeframe.
During the 11 months, 14 quadrillion rials (about $24.1 billion) of this loan were allocated for working capital within the service sector. Furthermore, the sector received a loan of nearly 3.85 quadrillion rials (approximately $6.62 billion) for the establishment of businesses and facilities.
Moreover, loans for sectoral development amounted to 721 trillion rials (about $1.24 billion), while 248 trillion rials (about $428 million) were allocated for self-employment initiatives.
In the reporting period, Iranian banks extended consumer loans totaling 79.7 trillion rials (about $137 million), and 21.6 trillion rials (about $37.2 million) were granted for renovation work. Additionally, loans for housing amounted to 18.6 trillion rials (about $32 million).
Iranian banks issued loans worth about 48.5 quadrillion rials (about $84.7 billion) during the 11 months of the current Iranian year. The loans extended by Iranian banks increased by 24.7 percent in eight months compared to the same period last year.
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