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Iran’s CBI announces loans issued in housing and construction sector

Finance Materials 15 June 2021 14:48 (UTC +04:00)

BAKU, Azerbaijan, Jun. 15

By Elnur Baghishov – Trend:

Banks in Iran issued loans worth 1.04 quadrillion rials (about $24.9 billion) in the housing and construction sector in Iran over the last Iranian year (from March 20, 2020, through March 20, 2021), Trend reports citing the statistics of the Central Bank of Iran (CBI).

According to the statistics, about 225 trillion rials (about $5.36 billion) worth of loans was issued for construction work in the housing and construction sector within the last Iranian year.

“In addition, Iranian banks issued loans worth 334 trillion rials (about $7.95 billion) as working capital in this sector,” the statistics said.

Over the last Iranian year, 211 trillion rials (about $5.02 billion) worth of loans was issued for repair work and 42.5 trillion rials (about $1.01 billion) for development work in the housing and construction sector, the statistics said.

Furthermore, Iranian banks issued loans worth 406 billion rials (about $9.6 million) for the purchase of personal assets in the housing and construction sector, 225 trillion rials (about $5.36 billion) for the purchase of housing, and 10.3 trillion rials (about $246 million) for other purposes.

As reported, the Iranian banks issued loans worth about 19 quadrillion rials (about $452 billion) in various economic sectors in the last Iranian year. This an increase of 94.8 percent, compared to the preceding Iranian year (from March 21, 2019 through March 19, 2020).

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