BAKU, Azerbaijan, November 1. The loans issued by Iranian banks in the service sector increased by 13 percent during 4 months of the current Iranian year (from March 20 through September 21, 2024) compared to the same period of last year (from March 21 through September 22, 2023), the statistics of Iran's Central Bank said, TurkicWorld reports.
According to the statistics, Iranian banks extended loans worth about 9.88 quadrillion rials (about $22.3 billion) in the service sector during 6 months of the current Iranian year (from March 20 through September 21, 2024).
However, during the last six months of the last Iranian year (from March 21 through September 22, 2023), Iranian banks extended loans worth about 8.74 quadrillion rials (about $19.6 billion) in the service sector.
The figures claim that a whopping 7.54 quadrillion rials (about $16.9 billion) worth of loans were dished out as working capital in the service sector over the course of 6 months.
The statistics add that 417 trillion rials (about $938 million) worth of development loans and 66 trillion rials (about $148 million) worth of self-employment loans were granted in the service sector.
The information noted that during the mentioned month, Iranian banks issued consumer loans worth 41.8 trillion rials (about $94 million), 13.3 trillion rials (about $29.8 million) for renovation works, and 13.6 trillion rials (about $30 million) for housing.
To note, Iranian banks extended loans worth approximately 24.1 quadrillion rials (about $54.5 billion) during the 6 months of the current Iranian year. Loans extended by Iranian banks increased by 18.2 percent in the past six months compared to the same period last year.
