BAKU, Azerbaijan, November 7. During the seven months of the current Iranian year (from March 20 through October 21, 2024), Iranian banks extended loans in the commercial sector by 25.1 percent more than during the same period last year (from March 21 through October 22, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth 2.94 quadrillion rials (about $6.69 billion) in the commercial sector during seven months of the current Iranian year. However, this figure stood at about 2.35 quadrillion rials (about $5.35 billion) in the same period last year.
According to the statistics, the commercial sector received working capital loans worth 2.56 quadrillion rials, or roughly $5.83 billion, during the specified period.
According to the statistics, loans worth about 211 trillion rials (about $479 million) were issued in connection with the establishment of enterprises and other opportunities and 153 trillion rials (about $348 million) in connection with the development of enterprises in the commercial sector during the seven months.
Furthermore, the statistics say that consumer credit in the commercial sector amounted to 6.52 trillion rials (about $14.8 million) and 4.07 trillion rials (about $9.26 million) for the self-employed.
The information notes that Iranian banks issued loans worth 2.96 trillion rials (about $6.73 million) for renovation works and 531 billion rials (about $1.3 million) for housing in the commercial sector during the mentioned period.
To note, Iranian banks issued loans worth about 28.3 quadrillion rials (about $63.9 billion) during seven months of the current Iranian year. The loans extended by Iranian banks increased by 19.4 percent in the seven months compared to the same period last year.