BAKU, Azerbaijan, December 9. The loan dished out by Iranian banks in the housing and construction sector saw a jump of 7.8 percent during the eight months of the current Iranian year (from March 20 through November 20, 2024) compared to the same timeframe last year (from March 21 through November 21, 2023).
Data obtained by Trend from the country's Central Bank shows that Iranian banks extended loans worth 1.65 quadrillion rials (about $3.4 billion) in the housing and construction sector during the eight months of the current Iranian year.
However, in the same period of last year, the value of loans granted by Iranian banks in the mentioned sector amounted to about 1.53 quadrillion rials (about $3.16 billion).
Furthermore, the statistics added that loans worth about 911 trillion rials (about $1.88 billion) were granted for construction works in the housing sector during the eight months.
Statistics indicate that Iranian banks issued loans worth 603 trillion rials (about $1.24 million) as working capital in the housing and construction sector during the eight months.
Moreover, the statistics note that 67 trillion rials (about $138 million) worth of loans were disbursed during the mentioned period in connection with development works and 57.5 trillion rials (about $119 million) in connection with home purchases in the housing and construction sector.
The information adds that Iranian banks issued loans worth 3.19 trillion rials (about $6.6 million) for renovation works in the housing and construction sector, 1.88 trillion rials (about $3.9 million) for self-employment, and 1.5 trillion rials (about $3.1 million) of consumer credit during the eight months.
To note, Iranian banks issued loans worth about 32.9 quadrillion rials (about $70 billion) during the eight months of the current Iranian year. The loans extended by Iranian banks increased by 19.2 percent during the eight months compared to the same period last year.