BAKU, Azerbaijan, August 19. The loan extended by Iranian banks to the commercial sector increased by 21.2 percent during 4 months of the current Iranian year (from March 20 through July 21, 2024) compared to the same period of last year (from March 21 through July 22, 2023), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, Iranian banks issued loans worth 1.47 quadrillion rials (about $3.65 billion) in the commercial sector during the first 4 months of the current Iranian year. However, in the same period last year, the figure was about 1.22 quadrillion rials (about $2.99 billion).
The statistics add that loans worth 1.28 quadrillion rials (about $3.15 billion) were granted as working capital in the commercial sector during the 4 months.
The information notes that during the 4 months, 101 trillion rials (about $249 million) worth of loans were granted for the establishment of enterprises and other opportunities and 83 trillion rials (about $204 million) for the development of enterprises.
Furthermore, the statistics indicate that 1.73 trillion rials (about $4.25 million) were granted for self-employment and 1.37 trillion rials (about $3.37 million) for consumer loans in the commercial sector.
The statistics show that during the mentioned period, Iranian banks granted loans worth 1.01 trillion rials (about $2.49 million) for renovation and 531 billion rials (about $1.3 million) for residential purchases in the commercial sector.
To note, Iranian banks extended loans worth approximately 13.3 quadrillion rials (about $32.9 billion) during the 4 months of the current Iranian year (from March 20 through July 21, 2024). During the 4 months, loans extended by Iranian banks increased by 18.3 percent compared to the same period last year (from March 21 through July 22, 2023).
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