Figures by the Central Bank of Iran (CBI) show that households accounted for 22.7% of the total loans granted by the country’s banking system in the four months to July 21.

According to The Iran Project, CBI figures published on Tuesday showed that the Iranian state and private banks had granted a total of 16,957 trillion rials ($28.7 billion) of loans to businesses, industries and households in April-July, up 20.6% from the same period in 2023.

Small loans (loans below 3 billion rials or $5,000) accounted for 24.7% of all loans, while loans granted to households reached 3,672.2 trillion rials of which some 1,429 trillion rials went to purchases of personal appliances, the figures showed.

Working capital loans granted to all businesses in Iran topped 10,035 trillion rials in April-July with mining and manufacturing sector receiving the lion's share of 44.6%, showed the data.

The CBI said that the total loans granted by the Iranian banking system to the mining and manufacturing sector in the country in the four months to late July had exceeded 5,202 trillion rials ($8.8 billion) .