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EghtesadOnline: In the first ten months of the current fiscal to January 20, lenders granted 5,380 trillion rials ($ 42 billion) in loans, up 757 trillion rials ($6 billion) compared to the same period in the previous fiscal – a 16.4% growth.

Data released by the Central Bank of Iran indicates that the loans were paid to 7.8 million applicants during the ten months. The service sector holds the lion’s share in terms of both value and volume of loans, attracting 2,196 trillion rials ($17.2 billion) via 4.4 million entities. 

This group is followed by mine and industry sector that took 1,538 trillion rials ($12.1 billion). 

Credits and loans allocated to the commercial sector amounted to 742 trillion rials ($5.8 billion) and the housing sector received 474 trillion rials ($3.7 billion), Financial Tribune reported.

Finally, 425 trillion rials (3.3 billion) went to the key agriculture sector in 1.1 million entities. 

The average value of loans paid to each applicant was 6.2 billion rials ($50,000) in the mining and industry sector which was higher than the average paid to all other sectors. 

As for lending purposes, 58.8% of loans were given to funding working capital, 9.7% to establishing businesses, 7.9% for buying personal goods, 5.5% to development projects, 4.8% were home loans, 2.4% for housing renovation and 11.1% for other miscellaneous needs.


Working Capital 

Money for working capital in various sectors took the lion’s share of 3,161 trillion rials on Jan. 20, accounting for 58.8% of the total loans. According to CBI, the figure rose by 287 trillion rials (10%) compared to the corresponding period last year. 

The mine and industry sector holds the lion’s share in the working capital funding category, absorbing 1,213 trillion rials ($9.5 billion), which accounted for 78.9% of the total loans allocated to the sector.

Of the total lending to the agriculture sector, 269 trillion rials ($2 billion) was spent on working capital of  agricultural units which made up for 63.3% of the total loans to the sector. This figure in the service sector amounted to 1,000 trillion rials ($7.8 billion) or 48% of the total loans for the sector.  

Likewise, about 520 trillion ($4 billion) or 70.1%  worth of loans to the commercial sector was used to fund the working capital of businesses operating within the sector. 

However, the share of working capital in the housing sector was comparatively lower than other sectors. Close to 98 trillion rials ($771 million) of the aggregate amount allocated to the sector was spent on working capital, hardly accounting for 20% the total loans. 

Most loan recipients in the housing sector used the money to purchase homes. Loans in this sphere amounted to 205 trillion rials ($1.6 billion) by the end of tenth Iranian month, or 43.4% of the total loans allocated to the sector.  


Iran Banks Loans lending