BAKU, Azerbaijan, July 22. The loans extended by Iran's banks in the services sector increased by 17 percent in the first 3 months of the current Iranian year (from March 20 through June 20, 2024) compared to the same period last year (from March 21 through June 21, 2023), the statistics of Iran's Central Bank said, Trend reports.
The statistics noted that Iranian banks issued loans worth 3.71 quadrillion rials (about $9.4 billion) in the services sector during 3 months of the current Iranian year (from March 20 through June 20, 2024).
However, during the last three months of the last Iranian year (from March 21 through June 21, 2023), Iranian banks extended loans in the services sector worth 3.17 quadrillion rials (about $8.1 billion).
According to the statistics, 2.66 trillion rials (about $6.8 billion) worth of loans were granted as working capital in Iran's services sector during the three months.
The information indicates that Iranian banks have extended loans worth about 787 trillion rials (about $2 billion) to establish businesses and facilities in the services sector for 3 months.
Furthermore, the statistics mentioned that loans worth 183 trillion rials (about $468 million) were granted for development and about 42.6 trillion rials (about $109 million) for self-employment in the services sector.
Nevertheless, during the mentioned month, Iranian banks granted loans worth 27.3 trillion rials (about $70 million) for consumer loans, 6.64 trillion rials (about $17 million) for renovation works, and 1.26 trillion rials (about $3.24 million) for housing.
To note, during the 3 months of the current Iranian year (from March 20 through June 20, 2024), Iranian banks extended loans worth 9.55 quadrillion rials (about $24.4 billion). The loan extended by Iranian banks increased by 21.7 percent in the three months compared to the same period last year (from March 21 through June 21, 2023).
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