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Iranian banks issue large loans in services sector

Finance Materials 15 February 2022 15:15 (UTC +04:00)

BAKU, Azerbaijan, February 15

By Elnur Baghishov – Trend:

Iranian banks issued loans worth 9.59 quadrillion rials (about $228 billion) in the services sector, during the first 10 months of the current Iranian year (from March 21, 2021 through January 20, 2022), Trend reports via the statistics of the Central Bank of Iran (CBI).

According to the statistics, 984 trillion rials (about $23.4 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 6.48 quadrillion rials (about $154 billion) as working capital in the services sector within 10 months," the statistics said.

At the same time, the loans worth 176 trillion rials (about $4.19 billion) were issued for repair work and 964 trillion rials (about $22.9 billion) for development in the services sector, the statistics said.

According to the statistics, the Iranian banks issued loans worth 59.3 trillion rials (about $1.41 billion) for the purchase of personal assets, 63.4 trillion rials (about $1.5 billion) for the purchase of housing, and 857 trillion rials (about $20.4 billion) for the other purposes in the services sector.

The Iranian banks issued loans worth about 22.9 quadrillion rials (about $546 billion) in various economic sectors in the first 10 months of the current Iranian year.

The figure stood at 8.55 quadrillion rials (about $204 billion) in the same period last Iranian year.

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