BAKU, Azerbaijan, October 10. The loans extended by Iranian banks in the agricultural sector decreased by 2.4 percent during the six months of the current Iranian year (from March 20 through September 21, 2024) compared to the same period last year (from March 21 through September 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth 1.2 quadrillion rials (about $2.72 billion) in the agricultural sector during six months of the current Iranian year (from March 20 through September 21, 2024). However, during the same period last year (from March 21 through September 22, 2023), the figure stood at 1.23 quadrillion rials (about $2.78 billion).
Furthermore, the statistics show that the agricultural sector received loans totaling 678 trillion rials, or roughly $1.53 billion, as working capital.
According to the statistics, loans worth 407 trillion rials (about $921 million) were issued for establishing enterprises in the agricultural sector and building orchards and plantations during the six months. Iran's agricultural sector received loans worth 80.2 trillion rials, or roughly $182 million.
Furthermore, the information indicates that a total of 28.6 trillion rials (about $64.8 million) were granted for self-employment, 6.08 trillion rials (about $13.7 million) for consumer goods, 272 billion rials for home purchases (about $615,000), and 209 billion rials (about $489,000) of loans were granted for renovation works.
To note, Iranian banks issued loans worth about 24.1 quadrillion rials (about $54.5 billion) during the six months of the current Iranian year. The loans extended by Iranian banks increased by 18.2 percent during the six months compared to the same period last year.