BAKU, Azerbaijan, Mar. 17
By Elnur Baghishov – Trend:
The Iranian banks issued loans worth a total of about 16 quadrillion rials (about $382 billion) in various sectors during the first 11 months of the current Iranian year (from March 20, 2020, through February 18, 2021), Trend reports citing the statistics of the Central Bank of Iran (CBI).
According to the statistics, the number of issued loans increased by 96.2 percent compared to the same period last Iranian year. So, 7.87 quadrillion rials (about $187 billion) worth of loans were issued in Iran in the same period last Iranian year.
"The Iranian banks issued loans worth 1.1 quadrillion rials (about $26.2 billion) to the agricultural sector in the first 11 months," the statistics said.
Moreover, 4.87 quadrillion rials (about $116 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 of 914 trillion rials (about $21.7 billion) to Iran's housing and construction sector.
"While in the Iranian trade sector, the Iranian banks issued loans worth 2.86 quadrillion rials (about $68.1 billion)," the statistics said.
Furthermore, 6.29 quadrillion rials (about $150 billion) worth of loans were issued in the services sector and 6.34 trillion rials (about $151 million) in other unmentioned areas within 11 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.
The reasons for the increase in loans were the increase in reserves of banks and financial institutions, the elimination of problems caused by the coronavirus pandemic, and the rent of apartments by citizens.