BAKU, Azerbaijan, February 8. The loans extended by Iranian banks to industrial and mining sectors increased by 30.4 percent during the ten months of the current Iranian year (from March 20, 2024, through January 19, 2025) compared to the same period last year (March 21, 2023, through January 20, 2024).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans worth 16.7 quadrillion rials (about $29.2 billion) in the industrial and mining sectors during the ten months.
However, during the same stretch last year, Iranian banks opened their wallets and dished out loans totaling around 12.8 quadrillion rials (roughly $22.4 billion) in the industrial and mining sectors.
Statistics indicate that 14 quadrillion rials (about $24.6 billion) worth of loans were extended in these sectors as working capital during the ten months.
The information shows that during the mentioned period, 1.9 quadrillion rials (about $3.33 billion) worth of loans were issued for the establishment of enterprises in the industrial and mining sectors.
Furthermore, the stats add that loans worth 564 trillion rials (about $987 million) were issued for the establishment of businesses in the industrial and mining sectors during the ten months.
The data shows that 108 trillion rials (about $189 million) worth of self-employment loans and 42.6 trillion rials (about $74.6 million) worth of consumer loans were disbursed in Iran's industrial and mining sectors during the mentioned period.
Meanwhile, a total of 9.73 trillion rials (about $17 million) worth of loans were granted for reconstruction and 5.33 trillion rials (about $9.3 million) for home purchases in these sectors.
To note, Iranian banks issued loans worth about 42.9 quadrillion rials (about $74.9 billion) during ten months of the current Iranian year. The credit extended by Iranian banks increased by 18.3 percent during the ten months compared to the same period last year.