BAKU, Azerbaijan, December 7. The loans extended by Iranian banks in the industrial and mining sectors increased by 27.3 percent during the eight months of the current Iranian year (from March 20 through November 20, 2024) compared to the same period last year (from March 21 through November 21, 2023).
The data obtained by Trend from the country's Central Bank shows that Iranian banks issued loans in the industrial and mining sectors amounting to about 12.6 quadrillion rials (about $26.5 billion) during the eight months.
Meanwhile, in the same period last year, Iranian banks extended loans worth 9.9 quadrillion rials (about $20.7 billion) in the industrial and mining sectors.
Moreover, these sectors extended working capital loans worth roughly 10.7 quadrillion rials, or $22.4 billion.
According to the statistics, loans worth about 1.35 quadrillion rials (about $2.82 billion) were issued for the establishment of enterprises in the industrial and mining sectors during the mentioned period.
The statistics add that loans worth 493 trillion rials (about $1 billion) were issued for the development of the industrial and mining sectors during the eight months.
The data shows that Iran's industrial and mining sectors issued loans totaling 21.8 trillion rials (about $49.4 million) for self-employment and 35.2 trillion rials (about $73.8 million) for consumer credit during the specified period.
Furthermore, the information indicates that these sectors received loans totaling 6.62 trillion rials (roughly $13.9 million) for renovation projects and 4.39 trillion rials (roughly $9.2 million) for housing purchases.
To note, Iranian banks issued loans worth about 32.9 quadrillion rials (about $70 billion) during eight months of the current Iranian year. Iranian banks increased their loan extension by 19.4 percent during the eight months compared to the same period last year.