BAKU, Azerbaijan, December 10. The loans extended by Iranian banks and financial institutions increased by 28.3 percent during eight months of the current Iranian year (from March 20 through November 20, 2024) compared to the same period of last year (from March 21 through November 21, 2023).
Data obtained by Trend from the Central Bank of Iran shows that Iranian banks and financial institutions extended loans worth 3.53 quadrillion rials (about $7.28 billion) in the trade sector during the mentioned period. However, during the same period last year, the value of credit extended by Iranian banks amounted to about 2.75 quadrillion rials (about $5.67 billion).
Furthermore, the data revealed that the trade sector issued loans totaling 3.06 quadrillion dollars, or roughly $6.31 billion, over eight months.
According to the information, loans worth 261 trillion rials (about $538 million) were granted in connection with the establishment of enterprises and other opportunities in the trade sector, and 190 trillion rials (about $392 million) in connection with the development of enterprises.
The stats indicate that in the commercial sector, consumer credit amounted to 6.86 trillion rials (about $14.2 million), and for self-employment, 5.43 trillion rials (about $11.2 million).
The information notes that Iranian banks extended loans worth about 4.24 trillion rials (about $8.74 million) for renovation works and 544 billion rials (about $1.12 million) for home purchases in the commercial sector during the mentioned period.
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 in eight months compared to the same period last year.