BAKU, Azerbaijan, April 15. The loans issued by Iran's banks in the housing and construction sector during the last Iranian year (from March 20, 2024, through March 20, 2025) grew by 8.8 percent compared to the previous year (from March 21, 2023, through March 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 2.83 quadrillion rials (about $4.9 billion) during the reporting year compared to the previous year (2.6 quadrillion rials, or about $4.5 billion).
Construction loans worth 1.34 quadrillion rials (about $2.33 billion) were granted in the housing and construction sector last year.
Meanwhile, Iranian banks issued loans worth about 1.1 quadrillion rials (about $1.92 billion) as working capital in the housing and construction sectors last year.
A total of 199 trillion rials (about $344 million) and 165 trillion rials (about $286 million) worth of loans were extended for the purchase of housing in connection with development work in the housing and construction sector during the reporting year.
Furthermore, Iranian banks issued loans worth 7.81 trillion rials (about $13.5 million) for renovation work, 4.65 trillion rials (about $8.06 million) for self-employment, and 3.46 trillion rials (about $6 million) of consumer loans last year.
Iranian banks issued loans worth about 59.7 quadrillion rials (about $105 billion) during the last Iranian year, representing growth of 29.5 percent compared to the previous year.
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