BAKU, Azerbaijan, February 10. The loans issued by Iranian banks in the housing and construction sector during ten months of the current Iranian year (from March 20, 2024, through January 19, 2025) increased by 2 percent compared to the same period last year (from March 21, 2023, through January 20, 2024).
The data obtained by Trend from the country's Central Bank shows that Iranian banks extended loans in the housing and construction sectors worth about 2.01 quadrillion rials (about $3.53 billion) during the ten months. However, in the same period last year, the value of credit extended by Iranian banks in the mentioned sector amounted to about 1.97 quadrillion rials (about $3.45 billion).
The statistics add that construction loans worth 1.1 quadrillion rials (about $1.94 billion) were granted in the housing and construction sector during the ten months.
Meanwhile, statistics show that Iranian banks issued loans worth about 746 trillion rials (about $1.3 million) as working capital in the housing and construction sectors during the ten months.
The information noted that 75.9 trillion rials (about $133 million) worth of construction loans and 75 trillion rials (about $131 million) worth of house loans were extended during the mentioned period.
Furthermore, the statistics indicate that Iranian banks issued loans worth 4.05 trillion rials (about $7.09 million) for renovation works, 3.28 trillion rials for self-employment (about $5.7 million), and 2.44 trillion rials (about $4.27 million) of consumer loans during the ten months.
To note, Iranian banks issued loans worth about 42.9 quadrillion rials (about $74.9 billion) during the ten months of the current Iranian year. The loans extended by Iranian banks increased by 18.3 percent in nine months compared to the same period last year.