BAKU, Azerbaijan, October 9. The loans extended by Iranian banks increased by 18.2 percent during the six months of the current Iranian year (from March 20 through September 21, 2024) compared to the same period of last year (March 21 through September 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth about 24.1 quadrillion rials (about $54.5 billion) during the six months. However, in the same period last year, Iranian banks issued loans worth about 20.4 quadrillion rials (about $46.1 billion).
Moreover, the statistics added that Iranian banks issued loans worth about 9.88 quadrillion rials (about $22.3 billion) in the service sector during the six months.
According to the statistics, Iranian banks issued loans worth about 9.2 quadrillion rials (about $20.8 billion) in the industrial and mining sectors during the mentioned period.
The information notes that Iranian banks extended loans worth about 2.52 quadrillion rials (around $5.69 billion) in the commercial sector during the mentioned period.
Meanwhile, loans worth 1.28 quadrillion rials (about $2.89 billion) were granted by Iranian banks in the housing and construction sector.
The statistics indicate that Iranian banks extended loans worth 1.2 quadrillion rials (about $2.72 billion) in the agricultural sector during the six months.
In addition, the data shows that loans worth 41.5 trillion rials (about 93.8 million dollars) were granted in other unspecified areas.
Statistics reveal that loans are given out for various purposes, such as starting businesses, funding renovations, developing projects, meeting consumer demands, buying apartments, and serving as working capital.