Friday, December 2 2011 16:18
Armenian commercial banks increased lending 27.7% for 10 months 2011
ArmInfo. Armenian commercial banks increased lending 3% to $3.17 billion (1.2 trillion) for Oct 2011, and 37.2% versus Oct 2010. Exclusive of extended and overdue loans, total provision of crediting grew 3,2% and amounted to 1.171 trillion drams or $3.08 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 39,7% or 464.7 billion drams (up 2,4% for October 2011, and foreign currency - up 3.6%.
As of 1 November 2011, the share of the share of the long-term loans in total lending in terms of the Armenian dram was 2% or 23.5 billion drams, and the share of short-term loans was 1% or 11.04 billion drams. The volume of the long-term loans decreased by 14% for Oct 2011 (down almost twofold for 10 months), and the volume of short-term loans increased by 32,5% (up almost threefold for 10 months 2011).
In the structure of extended loans, the share of short-term loans was the largest - 51.5% or 12.2 billion drams. Almost all the overdue loans were short-term - 99,8%. The interest rates for the loans in terms of the national dram for Oct 2011 grew 0,2 points and dropped 1,08 points - to 17,89% versus Oct 2010.
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