BAKU, Azerbaijan, April 17. The amount of bank loans issued in various economic sectors in Iran’s East Azerbaijan Province in the north-west of the country, increased by 48 percent, over the last Iranian year (March 21, 2022 through March 20, 2023), compared to the preceding year (March 21, 2021 through March 20, 2022), Chairman of the Commission on banks’ branches in East Azerbaijan Province, Adil Gholami told IRNA, Trend reports.
The chairman noted that the banks in the East Azerbaijan Province provided loans worth approximately 988 trillion rials (about $23.5 billion) in the last Iranian year. In contrast, in the preceding year, the figure stood at about 606 trillion rials (about $14.4 billion).
He added that about 233 trillion rials (about $5.54 billion) worth of loans were issued in the province's services sector within the last year, an increase of 71 percent compared to the preceding year.
According to Gholami, about 114 trillion rials (about $2.7 billion) worth of loans were issued for the agricultural sector for the reporting period. This shows a 57 percent increase compared to the preceding year.
The official also said that loans worth 84.9 trillion rials (about $2.02 billion) were issued in the province on trade and export, which is an increase of 17 percent compared to the preceding year.
“In addition, loans worth 90.3 trillion rials (about $2.15 billion) were issued in the housing and construction sector of East Azerbaijan Province for the last year. This is a 109-percent increase compared to the preceding Iranian year,” he pointed out.
Meanwhile, the remaining loans were issued in various fields, including industry, mining, etc., Gholami said.
In total, Iranian banks provided loans worth approximately 36.7 quadrillion rials (about $874 billion) in various economic sectors in the country during the first 11 months of the last Iranian year (March 21, 2022 through February 19, 2023).
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