BAKU, Azerbaijan, September 14. The loans extended by Iranian banks in the industrial and mining sectors increased by 18.7 percent during the first five months of the current Iranian year (from March 20 through August 21, 2024) compared to the same period last year (from March 21 through August 22, 2023).
The data obtained by Trend from the country's Central Bank indicates that Iranian banks issued loans worth about 6.78 quadrillion rials (about $15.7 billion) in the industrial and mining sectors during the five months.
However, during the same period last year, Iranian banks extended loans worth 5.71 quadrillion rials (about $13.2 billion) in the industrial and mining sectors.
Moreover, loans worth 5.78 quadrillion rials (about $13.4 billion) were issued as working capital in these sectors during the five months.
According to the statistics, 579 trillion rials (about $1.53 billion) worth of loans were issued for the establishment of enterprises in the industrial and mining sectors during the mentioned period.
Furthermore, the statistics add that loans worth 286 trillion rials (about $664 million) were issued for the development of the industrial and mining sectors.
The information notes that during the mentioned period, loans worth 21.8 trillion rials (about $50.6 million) were issued for consumer needs and 7.43 trillion rials (about $17.2 million) for self-employment.
Statistics indicate that in these sectors, loans worth 2.21 trillion rials (about $5.14 million) were issued for housing and 1.92 trillion rials (about $4.44 million) for renovation works.
To note, Iranian banks issued loans worth about 17.4 quadrillion rials (about $40.6 billion) in the first five months of the current Iranian year. The credit extended by Iranian banks increased by 18 percent in the five months compared to the same period last year.
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