BAKU, Azerbaijan, October 15. The loan extended by Iranian banks to the commercial sector increased by 25 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 (from March 21 through September 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans in the commercial sector amounting to about 2.52 quadrillion rials (about $5.69 billion) during the six months of the current Iranian year. However, in the same period of last year, the figure was about 2.01 quadrillion rials (about $4.54 billion).
The statistics add that loans worth 2.19 quadrillion rials (about $4.96 billion) were granted as working capital in the commercial sector during the six months.
According to the information, loans worth 178 trillion rials (about $403 million) were granted in connection with the establishment of enterprises and other opportunities in the commercial sector, and 134 trillion rials (about $303 million) in connection with the development of enterprises.
The stats indicate that in the commercial sector, consumer credit amounted to 6.13 trillion rials (about $13.8 million) and for self-employment - 3 trillion rials (about $6.78 million).
The information notes that Iranian banks extended loans worth about 2.1 trillion rials (about $4.74 million) for renovation works and 531 billion rials (about $1.3 million) for home purchases in the commercial sector during the mentioned period.
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 in six months compared to the same period last year.