BAKU, Azerbaijan, February 11. The loans extended by Iranian banks and financial institutions to the trade sector during the ten months of the current Iranian year (from March 20, 2024, through January 19, 2025) increased by nearly 49 percent compared to the same period last year (from March 21, 2023, through January 20, 2024).
Data obtained by Trend from the Central Bank of Iran shows that Iranian banks and financial institutions extended loans worth 4.57 quadrillion rials (about $8.04 billion) in the trade sector during the mentioned period. However, during the same period last year, the value of credit extended by Iranian banks amounted to about 3.05 quadrillion rials (about $5.37 billion).
In addition, the data indicated that the trade sector made loans totaling $3.96 quadrillion, or about $6.96 billion, during the ten-month period.
According to the information, loans worth 340 trillion rials (about $598 million) were granted in connection with the establishment of enterprises and other opportunities in the trade sector, and 246 trillion rials (about $434 million) in connection with the development of enterprises.
The stats indicate that in the commercial sector, consumer credit amounted to 8.87 trillion rials (about $15.6 million), and for self-employment, 8.7 trillion rials (about $15.3 million).
The information notes that Iranian banks extended loans worth about 5.13 trillion rials (about $9.02 million) for renovation works and 704 billion rials (about $1.23 million) for home purchases in the commercial sector during the mentioned period.
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 eight months compared to the same period last year.