BAKU, Azerbaijan, September 12. The loan extended by Iranian banks increased by 18 percent during the five months of the current Iranian year (from March 20 through August 21, 2024) compared to the same period of last year (from March 21 through August 22, 2023), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, Iranian banks issued loans worth about 17.4 quadrillion rials (about $40.6 billion) during the five months. At the same time, the value of credit issued in the same period last year totaled (about $34.4 billion).
Furthermore, the statistics add that Iranian banks issued loans worth 6.77 quadrillion rials (about $15.8 billion) in the industrial and mining sectors during the five months.
Meanwhile, Iranian banks issued loans worth 6.57 quadrillion rials (about $15.4 billion) in the service sector during the five months.
The information notes that Iranian banks granted loans worth 2.02 quadrillion rials (about $4.72 billion) in the trade sector during the mentioned period.
However, the statistics indicate that Iranian banks extended loans worth 970 trillion rials (about $2.27 billion) in the housing and construction sectors.
Moreover, the statistics show that Iranian banks extended loans worth about 992 trillion rials (about $2.32 billion) in the agricultural sector.
Also, statistics state that in other unspecified areas, loans worth 32.3 trillion rials (about $75.6 million) have been granted.
To note, the information indicates that loans are handed out for setting up shop, keeping the wheels turning, sprucing things up, growing the business, meeting consumer needs, and snagging a new apartment, among other things.