BAKU, Azerbaijan, August 20. The loans issued by Iranian banks in the service sector increased by 14.2 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 extended loans worth about 5.09 quadrillion rials (about $12.6 billion) in the service sector during 4 months of the current Iranian year (from March 20 through July 21, 2024). However, during the last four months of the last Iranian year (from March 21 through July 22, 2023), Iranian banks extended loans worth about 4.45 quadrillion rials (about $10.9 billion) in the service sector.
The figures claim that a whopping 3.65 quadrillion rials (about $8.91 billion) worth of loans were dished out as working capital in the service sector over the course of 4 months.
Moreover, the information notes that Iranian banks extended loans worth 1.08 quadrillion rials (about $2.65 billion) to establish businesses and facilities in the service sector during the 4 months.
The statistics add that 252 trillion rials (about $615 million) worth of development loans and 49.7 trillion rials (about $121 million) worth of self-employment loans were granted in the service sector.
The information noted that during the mentioned month, Iranian banks issued consumer loans worth 30.6 trillion rials (about $74.6 million), 11 trillion rials (about $26.8 million) for renovation works, and 2.77 trillion rials (about $6.77 million) for housing.
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). Loans extended by Iranian banks increased by 18.3 percent in the past four months compared to the same period last year (from March 21 through July 22, 2023).
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