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Central Bank of Iran unveils amount of loans issued in housing, construction sector

Finance Materials 16 August 2021 11:59 (UTC +04:00)
Central Bank of Iran unveils amount of loans issued in housing, construction sector

BAKU, Azerbaijan, Aug. 16

By Elnur Baghishov – Trend:

Banks in Iran issued loans worth 327 trillion rials (about $7.78 billion) in the housing and construction sector in Iran, during the first four months of the current Iranian year (from March 21 through July 22, 2021), Trend reports citing the statistics of the Central Bank of Iran (CBI).

According to statistics, about 71.9 trillion rials (about $1.71 billion) worth of loans was issued for construction work in the housing and construction sector within the first four months.

In addition, Iranian banks issued loans worth 115 trillion rials (about $2.75 billion) as working capital in this sector.

Over the reporting period, 59.3 trillion rials (about $1.41 billion) worth of loans was issued for repair work and 18.3 trillion rials (about $435 million) for development work in the housing and construction sector.

Furthermore, Iranian banks issued loans worth 57 billion rials (about $1.35 million) for the purchase of personal assets in the housing and construction sector, 59.4 trillion rials (about $1.41 billion) for the purchase of housing, and 2.38 trillion rials (about $56.6 million) for other purposes.

As reported, the Iranian banks issued loans worth about 7.01 quadrillion rials (about $167 billion) in various economic sectors in the first four months of the current Iranian year. This is an increase of 55.5 percent, compared to the same period last Iranian year.

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