BAKU, Azerbaijan, February 15. Loans provided by Iranian banks to the services sector during the ten months of the current Iranian year (from March 20, 2024, through January 19, 2025) have increased by 18.7 percent compared to the same period last year (from March 21, 2023, through January 20, 2024).
The data obtained by Trend from the Central Bank of Iran shows that the country's banks issued around 17.1 quadrillion rials (about $30.3 billion) of loans to the services sector during the mentioned period. This marks an increase from the previous year's 14.4 quadrillion rials (about $25.5 billion) in the same timeframe.
The information also reveals that 12.6 quadrillion rials (about $22.4 billion) of this loan was allocated for working capital within the services sector. Furthermore, the mentioned sector received a grant of 3.44 quadrillion rials, or approximately $6.1 billion, for the establishment of businesses and facilities.
Moreover, loans for sectoral development amounted to 651 trillion rials (about $1.15 billion), while 207 trillion rials (about $367 million) were allocated for self-employment initiatives.
The information notes that Iranian banks extended consumer loans totaling 72.1 trillion rials (about $128 million), and 19.2 trillion rials (about $34 million) were granted for renovation works. Additionally, loans for housing amounted to 18.4 trillion rials (about $32.6 million).
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.