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Loans worth over $90B issued for economic sector in Iran

Business Materials 3 November 2019 12:18

BAKU, Azerbaijan, Nov. 3

By Elnur Baghishov - Trend:

The loans worth 3.82 quadrillion rials (about $90.9 billion) were issued for the Iranian economic sector from March 21 through September 22 of this Iranian year, the Central Bank of Iran said, Trend reports referring to the bank’s website.

The volume of loans increased by 26 percent from March 21 through September 22 compared to the same period of last year. The loans worth 2.11 quadrillion rials (about $50.2 billion) were issued for the economic sector as part of the support for capital turnover.

The table shows the purpose for the loan issuance. The amounts are indicated in billion rials.

Loan purpose

Agriculture

Industry and mining

Housing construction

Trade

Services

Others

All sectors

Sum

Share in %

Sum

Share in %

Sum

Share in %

Sum

Share in %

Sum

Share in %

Sum

Share in %

Sum

Share in %

Establishment of enterprise

61.360

19.2

120.928

10.2

37.857

13.3

28.887

4.2

160.378

11.9

136

3.7

409.545

10.7

Capital turnover

197.644

62

861.959

72.8

73.712

26

287.773

41.8

687.421

51.2

3.172

87.2

2,111.681

55.3

Repair

1.569

0.5

5.170

0.4

60.549

21.3

1.854

0.3

46.278

3.4

45

1.2

115.466

3

Expansion

28.809

9

147.188

12.4

7.533

2.7

63.488

9.2

124.064

9.2

170

4.7

371.253

9.7

Purchase and sale of products

6.182

1.9

32.783

2.8

1.838

0.6

290.314

42.1

110.632

8.2

65

1.8

441.815

11.6

Purchase and sale of apartments

797

0.2

5.570

0.5

99.058

34.9

2.411

0.3

15.935

1.2

15

0.4

123.785

3.2

Others

22.397

7

10.047

0.8

3.242

1.1

14.432

2.1

197.667

14.7

34

0.9

247.820

6.5

Total

318.759

100

1,183.646

100

283.789

100

689.160

100

1,342.375

100

3.636

100

3,821.365

100

The table shows the loans issued for the economic sector by banks and financial institutions. The amounts are indicated in billion rials.

Bank / Economic sector

Agriculture

Industry and mining

Housing construction

Trade

Services

Others

All sectors

Quantity

Sum

Quantity

Sum

Quantity

Sum

Quantity

Sum

Quantity

Sum

Quantity

Sum

Quantity

Sum

All banks and financial institutions

672.742

317.759

208.084

1,183.646

509.740

283.789

1,290.009

689.160

1,745.766

1,342.375

768

3.636

4,427.109

3,8121.365

In accordance with the official exchange rate, $1 costs 42,000 rials. In the black market, $1 costs about 111,000 rials.

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