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Iran’s CBI unveils amount of loans issued by banks

Finance Materials 7 March 2021 22:09 (UTC +04:00)
Iran’s CBI unveils amount of loans issued by banks

BAKU, Azerbaijan, Mar. 7

By Elnur Baghishov – Trend:

The Iranian banks issued loans worth a total of about 13.9 quadrillion rials (about $332 billion) in various sectors during the first 10 months of the current Iranian year (from March 20, 2020 through January 19, 2021), Trend reports citing the statistics of the Central Bank of Iran (CBI).

According to the statistics, the amount of issued loans increased by 94.3 percent compared to the same period last Iranian year. So, 6.77 quadrillion rials (about $161 billion) worth of loans were issued in Iran in the same period last Iranian year.

"The Iranian banks issued loans worth 963 trillion rials (about $22.9 billion) to the agricultural sector in the first 10 months," the statistics said.

Moreover, 4.13 quadrillion rials (about $98.5 billion) worth of loans were issued to Iran's industrial and mining sectors, the statistics said.

According to the statistics, at the same time, the banks issued loans worth 801 trillion rials (about $19 billion) to Iran's housing and construction sector.

"While in the Iranian trade sector, the Iranian banks issued loans worth 2.51 quadrillion rials (about $59.9 billion)," the statistics said.

Furthermore, 5.53 quadrillion rials (about $132 billion) worth of loans was issued in the services sector and 5.76 trillion rials (about $137 million) in other unmentioned areas within 10 months, the statistics said.

According to the statistics, the loans are provided for the establishment of enterprises and facilities, as working capital, repair work, development, purchase of personal assets, purchase of apartments, and so on.

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