BAKU, Azerbaijan, March 6. Iranian banks have increased their lending to the industry and mining sectors, by 34.6 percent during the 11 months of the current Iranian year (from March 20, 2024, through February 18, 2025) compared to the same period last year (from March 21, 2023, through February 19, 2024).
Data obtained by Trend from the country's Central Bank indicates that banks provided around 19.1 quadrillion rials (about $33.5 billion) in loans in total to the industry and mining sectors during this period. In comparison, during the same period last year, the figure stood at 14.2 quadrillion rials (about $24.9 billion).
The data also shows that, within these sectors, 16.2 quadrillion rials (about $28.4 billion) were provided as working capital. Furthermore, loans amounting to 2.11 quadrillion rials (about $3.7 billion) were issued for the establishment of new enterprises in the industrial and mining sectors.
Moreover, credit worth 606 trillion rials (about $1 billion) was allocated for the development of these sectors.
The statistics further highlight that loans for self-employment amounted to 144 trillion rials (about 253 million), while 47.7 trillion rials (about $83.8 million) of consumer loans were issued.
Regarding repairs, loans totaling 10.5 trillion rials (about $18.5 million) were granted, and for residential purchases, credit of 7.7 trillion rials (about $13.5 million) was extended.
Iranian banks issued loans worth about 48.5 quadrillion rials (about $84.7 billion) during 11 months of the current Iranian year, representing growth of 24.7 percent compared to the same period last year.
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