BAKU, Azerbaijan, October 19. The loans extended by Iranian banks in the service sector increased by 13 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 extended loans worth about 9.88 quadrillion rials (about $22.3 billion) in the service sector during six months of the current Iranian year (from March 20-March 21 through September 21, 2024). However, during six months of the last Iranian year (from March 21 through September 22, 2023), Iranian banks extended loans worth about 8.74 quadrillion rials (about $19.6 billion) in the service sector.
According to the statistics, 7.54 quadrillion rials (about $16.9 billion) worth of loans were granted as working capital in Iran's services sector during the six months.
The information indicates that Iranian banks provided loans worth 1.78 quadrillion rials (about $4.01 billion) for the establishment of enterprises and facilities in the service sector during the six months.
The statistics add that loans worth 417 trillion rials (about $938 million) were granted for the development of the service sector, and loans worth 46 trillion rials (about $148 million) for self-employment.
Furthermore, the statistics note that during the mentioned month, Iranian banks issued loans worth 41.8 trillion rials (about $94 million) for consumer credit, 13.3 trillion rials (about $29.8 million) for renovation works, and 13.6 trillion rials (about $30 million) for housing purchase.
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.
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