BAKU, Azerbaijan, September 18. The loan extended by Iranian banks to the commercial sector increased by 28 percent during the first five months of the current Iranian year (from March 20 through August 21, 2024) compared to the same period of last year (March 21 through August 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth 2.02 quadrillion rials (about $4.66 billion) in the commercial sector during the five months of the current Iranian year. However, in the same period last year, the figure amounted to about 1.57 quadrillion rials (about $3.62 billion).
Furthermore, the statistics add that loans worth 1.76 quadrillion rials (about $4.06 billion) were granted as working capital in the commercial sector during the five months.
According to statistics, during the five months, 139 trillion rials (about $320 million) worth of loans were granted in connection with the establishment of enterprises and other opportunities, and 110 trillion rials (about $255 million) in connection with the development of enterprises in the commercial sector.
The information notes that 2.22 trillion rials (about $5.12 million) of loans were granted for self-employment and 4.5 trillion rials (about $10.3 million) of consumer credit.
The statistics note that Iranian banks granted loans worth 1.02 trillion rials (about $2.5 million) for renovation and 531 billion rials (about $1.3 million) for housing in the commercial sector during the mentioned period.
To note, Iranian banks issued loans worth about 17.4 quadrillion rials (about $40.6 billion) during the first five months of the current Iranian year. The loans granted by Iranian banks increased by 18 percent compared to the same period last year.