...

Iran’s housing and construction sectors receive significant bank loans

Finance Materials 2 October 2023 12:20 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
Read more

BAKU, Azerbaijan, October 2. Iranian banks lent 788 trillion rials (about $18.7 billion) in the housing and construction sectors of the country for the first five months of the current Iranian year (March 21 through August 22, 2023), Trend reports.

The loans were allocated for various purposes in the housing and construction ​sector:

- Construction work: 493 trillion rials (about $11.7 billion);

- Working capital: approximately 238 trillion rials (about $5.65 billion);

- Development work: 43.2 trillion rials (about $1.03 billion);

- Purchase of housing: 11.7 trillion rials (about $280 million);

- Repair work: 1.17 trillion rials (about $27.9 million);

- Purchase of personal assets: 710 billion rials (about $16.9 million);

- Self-employment: 483 billion rials (about $11.5 million).

In total, the Iranian banks issued loans worth 14.7 quadrillion rials (about $350 billion) in various economic sectors within the first 5 months of the current Iranian year.

---

Follow the author on X (Twitter):@BaghishovElnur

Tags:
Latest

Latest