Iran Augments Lending Of Its Service Sector

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 4. Loans granted by Iranian banks in the service sector grew by 39.2 percent in the first two months of the current Iranian year (from March 21 through May 21, 2025) compared to the same period last year (from March 20 through May 20, 2024).

The data obtained by Trend from the Central Bank of Iran shows that in the reporting period, Iranian banks granted loans worth approximately 2.98 quadrillion rials (nearly $4.96 billion) in the service sector, while in the same period last year, this figure amounted to 2.25 quadrillion rials (roughly $3.75 billion).

During the first two months of this year, loans granted as working capital in the service sector of Iran reached 2.24 quadrillion rials (circa $3.74 billion).

In the two months, Iranian banks have provided loans worth 565 trillion rials (about $942 million) for the establishment of enterprises and facilities in the service sector.

Besides, loans worth 96 trillion rials (about $160 million) were provided for the development of the service sector and 34.2 trillion rials (about $57 million) for the purchase of personal products.

During the mentioned period of this year, Iranian banks provided loans worth 24.9 trillion rials (about $41.5 million) for self-employment in the service sector, 7.18 trillion rials (about $12 million) for the implementation of necessary work, and 4.03 trillion rials (about $6.7 million) for repair work.

Overall, in the two months, banks and financial institutions in Iran issued loans worth approximately 8.5 quadrillion rials (around $13.7 billion) in various sectors. Loans issued in two months increased by 48.3 percent compared to the same period last year.

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