Friday, April 1 2011 19:53
In Feb 2011 loans provided by Armenian commercial banks grew by 3% to $2.6 bln
ArmInfo. The loans provided by Armenian commercial banks in Feb 2011 increased by 3% to 973 bln AMD ($2.6 bln) and annually grew by 28.9. Exclusive of extended and overdue loans, total provision of crediting grew by 3.4% in Feb and amounted to 927.5 bln AMD ($2.5 bln).
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 Armenian dram (exclusive of extended and overdue loans) was 42% or 389.6 billion drams, and the share of foreign exchange loans made up 58% or 537.9 bln AMD. In Feb 2011 AMD loans increased by 2.2% (11.7% annual growth), while foreign exchange loans grew by 4.1% (44% annual growth).
In the structure of loans provided by commercial banks as of March 1 2011 the share of extended loans was 4.1% or 40.4 billion drams, and the share of overdue loans was 0.5% or 5.1 billion drams. In Feb 2011 extended loans declined by 5.3% (45.3% annual growth), overdue loans grew by 24.7% (0.3% annual growth).
In the structure of extended loans, the share of short-term loans was the largest - 71.8% or 29 billion drams. Almost all the overdue loans were short-term - 99.7%.
According to the source, the interest rates on AMD loans provided by the Armenian commercial banks in Feb 2011 grew from 18.25% to 18.66%, annually increased by 1.22%.
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