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Iranian banks issue large loans in services sector

Business Materials 22 November 2021 13:02 (UTC +04:00)
Iranian banks issue large loans in services sector

BAKU, Azerbaijan, Nov. 22

By Elnur Baghishov – Trend:

Iranian banks issued loans worth 6.41 quadrillion rials (about $152 billion) in the services sector, during the first seven months of the current Iranian year (from March 21 through October 22, 2021), Trend reports citing the statistics of the Central Bank of Iran (CBI).

According to the statistics, 612 trillion rials (about $14.5 billion) worth of loans were issued for the establishment of enterprises and facilities in the services sector of Iran over the reporting period.

“Moreover, Iranian banks issued loans worth 4.37 quadrillion rials (about $104 billion) as working capital in the services sector within seven months,” the statistics said.

At the same time, the loans worth 104 trillion rials (about $2.47 billion) were issued for repair work and 717 trillion rials (about $17 billion) for development in the services sector, the statistics said.

According to the statistics, the Iranian banks issued loans worth 39.4 trillion rials (about $939 million) for the purchase of personal assets, 38.7 trillion rials (about $923 million) for the purchase of housing, and 532 trillion rials (about $12.7 billion) for the other purposes in the services sector.

As reported, the Iranian banks issued loans worth about 14.8 quadrillion rials (about $353 billion) in various economic sectors in the first seven months of the current Iranian year. The figure stood at 5.47 quadrillion rials (about $130 billion) in the same period last Iranian year.

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