Thursday, October 28 2010 16:45

Loan book of Armenia's credit organizations in Q3 2010: 23.7% drop in construction lending against 10.3% growth in trade lending


ArmInfo. In Q3 2010 the loan book of Armenia's credit organizations grew by 0.2% to 76.3bln AMD ($211mln) or 88.5% of their assets.

The press service of the Central Bank of Armenia reports that trade lending grew by 10.3% to 11.5bln AMD ($31.7mln), industry lending by 5.5% to 4.6bln AMD ($12.6mln), mortgage lending by 5.2% to 9.1bln AMD ($25.2mln). Lending in the financial sector grew by 2.9% to 22.5bln AMD ($62.3mln), in the field of transport and communication - by 0.8% to 2.235bln AMD ($6.2mln).

In all other sectors lending activities declined: in construction - 23.7% to 4.4bln AMD ($12.4mln), in agriculture - 6.4% to 12.1bln AMD ($33.5mln).

In the share of prime loans made up 95.9% or 76.5bln AMD ($211.7mln), supervised loans - 2.6% or 2.044bln AMD ($5.6mln), nonprime loans - 0.9% or 714.7mln AMD ($1.9mln), doubtful loans - 0.6% or 493.5mln AMD.

As of Oct 1 2010 there were 32 credit organizations with 60 branches in Armenia.
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