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Iranian banks boost services sector with $16.7 billion in loans

Finance Materials 29 May 2023 11:41 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, May 29. Iranian banks issued loans worth approximately 702 trillion rials (about $16.7 billion) in the services sector, during the 1st month of the current Iranian year (March 21 through April 20, 2023), Trend reports.

Of the mentioned amount, over 112 trillion rials (about $2.67 billion) was issued for the establishment of enterprises and facilities in the services sector of Iran.

Also, Iranian banks issued loans worth 557 trillion rials (about $13.3 billion) as working capital in the services sector within the first month.

At the same time, the banks issued loans worth 21.6 trillion rials (about $516 million) for the development of enterprises and 4.23 trillion rials ($101 million) for self-employment in the services sector for the 1st month.

Moreover, 1.76 trillion rials (about $42 million) worth of loans were issued for the purchase of housing, 35 billion rials (about $833,000) for repair work, and 4.8 trillion rials (about $114 million) for the purchase of personal assets in the services sector.

In total, the Iranian banks issued loans worth 1.61 quadrillion rials (about $38.4 billion) in various economic sectors for the first month.

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