BAKU, Azerbaijan, March 10. The loans issued by Iranian banks in the housing and construction sector during 11 months of the current Iranian year (from March 20, 2024, through February 18, 2025) grew by 4.1 percent compared to the same period last year (from March 21, 2023, through February 19, 2024).
The data obtained by Trend from the country's Central Bank shows that the local banks extended loans in the housing and construction sectors worth about 2.28 quadrillion rials (about $3.96 billion) during the 10 months. However, in the same period last year, the value of credit extended by Iranian banks in the mentioned sector amounted to 2.19 quadrillion rials (about $3.81 billion).
Construction loans worth 1.18 quadrillion rials (about $2.06 billion) were granted in the housing and construction sector during the 11 months.
Meanwhile, Iranian banks issued loans worth about 840 trillion rials (about $1.46 billion) as working capital in the housing and construction sectors during the 11 months.
A total of 156 trillion rials (about $272 million) and 81.7 trillion rials (about $142 million) worth of loans were extended for purchase of housing in connection with development work in the housing and construction sector during the mentioned period.
Furthermore, Iranian banks issued loans worth 7.7 trillion rials (about $13.4 million) for renovation work, 3.87 trillion rials (about $6.73 million) for self-employment, and 2.38 trillion rials (about $4.14 million) of consumer loans during the 11 months.
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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