Thursday, June 30 2011 17:37
Loan portfolio of Armenian commercial banks up 4.2% to $2.9 billion for May 2011
ArmInfo. Armenian commercial banks increased lending 4.2% to 1.089 trillion drams ($2.9 billion) for May 2011, 37.8% for Jan-May 2011 versus the same period of 2010 and 15.7% for Jan-May 2011. Exclusive of extended and overdue loans, total provision of crediting amounted to 1.043 trillion drams or $2.8 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 40.2% or 419.8 billion drams (up 9.5% for Jan-May 2011 and 3.7% for May). Foreign exchange loans totaled 59.8% or 623.3 billion drams (up 22.6% for Jan-May 2011 and 4.7% for May).
In the structure of loans provided by commercial banks as of June 1 2011 the share of extended loans was 3.8% or 41.6 billion drams (up 1.2% for May). The share of overdue loans was 0.4% or 4.5 billion drams (up 7.1% for May). In the structure of extended loans, the share of short-term loans was the largest - 58.4% or 24.3 billion drams. The short-term loans totaled 99.3% of overdue loans.
The interest rates for the loans in terms of the national dram for May 2011 were raised from 17.01% to 17.62% whereas versus Jan-May 2010 the interests were reduced by 2.4 percentage points.
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan