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Iranian banks issue big loans in services sector

Finance Materials 28 December 2021 18:43 (UTC +04:00)

BAKU, Azerbaijan, Dec. 28

By Elnur Baghishov – Trend:

Iranian banks issued loans worth 7.33 quadrillion rials (about $174 billion) in the services sector, during the first eight months of the current Iranian year (from March 21 through November 21, 2021), Trend reports via the statistics of the Central Bank of Iran (CBI).

According to the statistics, 705 trillion rials (about $16.8 billion) worth of loans were issued for the establishment of enterprises and facilities in the services sector of Iran over the reporting period.

“Moreover, Iranian banks issued loans worth 4.98 quadrillion rials (about $118 billion) as working capital in the services sector within eight months,” the statistics said.

At the same time, the loans worth 139 trillion rials (about $3.3 billion) were issued for repair work and 784 trillion rials (about $18.6 billion) for development in the services sector, the statistics said.

According to the statistics, the Iranian banks issued loans worth 46 trillion rials (about $1.09 billion) for the purchase of personal assets, 46.3 trillion rials (about $1.1 billion) for the purchase of housing, and 627 trillion rials (about $14.9 billion) for the other purposes in the services sector.

The Iranian banks issued loans worth about 17.3 quadrillion rials (about $410 billion) in various economic sectors in the first eight months of the current Iranian year. The figure stood at 6.43 quadrillion rials (about $149 billion) in the same period last Iranian year.

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