Thursday, June 2 2011 16:09
Loan portfolio of Armenian commercial banks up 3% to $2.8 billion for April 2011
ArmInfo. Armenian commercial banks increased lending 3% to $2.8 billion (1.045 bn drams) for April 2011, and 34% versus April 2010. Exclusive of extended and overdue loans, total provision of crediting amounted to 999.9 billion drams or $2.7 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 40.5% or 404.7 billion drams (up 14.6% versus April 2010 and 2.7% for April). Foreign exchange loans totaled 59.5% or 595.2 billion drams (up 52.6% versus April 2010 and 3.5% for April ).
In the structure of loans provided by commercial banks as of May 1 2011 the share of extended loans was 3.9% or 41.1 billion drams (up 2.7% for April and 27.2% growth versus April 2010). The share of overdue loans was 0.4% or 4.2 billion drams (no changes for April 2011 and 5.7% growth versus April 2010).
In the structure of extended loans, the share of short-term loans was the largest - 58.4% or 23.9 billion drams. Almost all the overdue loans were short-term.
The interest rates for the loans in terms of the national dram for April 2011 were reduced from 18.29% to 17.01% whereas versus April 2010 the interests were reduced almost by 2 percentage points.
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