BAKU, Azerbaijan, October 14. The loan dished out by Iranian banks in the housing and construction sector saw a jump of 13 percent during the six-month stretch of the current Iranian year (from March 20 through September 21, 2024) compared to the same timeframe last year (March 21 through September 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks extended loans worth 1.28 quadrillion rials (about $2.89 billion) in the housing and construction sector during the six months of the current Iranian year. However, in the same period of last year, the value of loans granted by Iranian banks in the mentioned sector amounted to about 1.13 quadrillion rials (about $2.55 billion).
Furthermore, the statistics added that loans worth about 717 trillion rials (about $1.62 billion) were granted for construction works in the housing sector during the six months.
Statistics indicate that Iranian banks issued loans worth 474 trillion rials (about $1.07 million) as working capital in the housing and construction sectors during the six months.
Moreover, the statistics note that 47.2 trillion rials (about $106 million) worth of loans were disbursed during the mentioned period in connection with development works and 38 trillion rials (about $85.8 million) in connection with home purchases in the housing and construction sectors.
The information adds that Iranian banks issued loans worth 2.01 trillion rials (about $4.54 million) for renovation works in the housing and construction sectors, 1.07 trillion rials (about $2.43 million) for self-employment and 746 billion rials (about $1.68 million) of consumer credit during the six months.
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.