Wednesday, December 1 2010 16:43
Armenian commercial banks increased lending 3.5% to $2.4 billion for Oct 2010
ArmInfo. Armenian commercial banks increased lending 3.5% to 878.7 billion drams or $2.4 billion as of Nov 1 2010. This indicator grew 19.2% for Jan-Oct 2010 and 23.3% versus Jan- Oct 2009.
Exclusive of extended and overdue loans, total provision of crediting grew 2.4% in Oct and amounted to 833.2 billion drams or $2.3 billion.
The preliminary data of the Central Bank of Armenia provided to ArmInfo by the National Statistical Service of Armenia say that the share of loans in terms of the national currency (exclusive of extended and overdue loans) was 43.2% or 360.5 billion drams (up 1% for Oct, and up 10.7% versus Jan-Oct 2009). Foreign exchange loans totaled 56.7% or 472.6 billion drams (up 3.5% for Oct and 31.7% versus Jan-Oct 2009).
The share of prolonged loans in total lending was 4.6% or 40.8 billion drams (up 24.7% for Oct and over twofold versus Oct 2009) and the share of overdue was 0.5% or 4.7 billion drams (up over twofold in Oct and almost halved versus Oct 2009).
The share of long-term loans in prolonged ones was 97% or 39.6 billion drams, whereas overdue loans were mostly short-term.
The interest rates for the loans in terms of the national dram for Oct 2010 were increased from 18.78% to 18.97% whereas versus Jan-Oct 2009 the interests were increased by 0.31 percentage points.
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