Monday, April 2 2012 17:55
Armenian commercial banks increased lending 2.3% for Feb 2012
ArmInfo. Armenian commercial banks increased lending 2.5% to 1.312 trillion AMD ($3.4 billion) for Feb 2012 (35% growth versus Feb 2011). Exclusive of extended and overdue loans, total provision of crediting grew 2.3% in Feb and amounted to 1.283 trillion drams or $3.3 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 37.6% or 482.3 billion drams (0.2% growth for Feb 2012). Foreign exchange loans totaled 62.4% or 800.9 billion drams (4.6% growth for Feb 2012).
In the structure of loans provided by commercial banks as of March 1 2012 the share of extended loans was 1.6% or 20.8 billion drams (up 1.3% for 2012). The share of overdue loans was 0.7% or 8.7 billion drams (up 25% for Feb 2012).
In the structure of extended loans, the share of short-term loans was the largest - 73% or 15.2 billion drams. Almost all the overdue loans (99.9%) were short-term.
The interest rates for the loans in terms of the national dram for Feb 2012 were reduced by 0.51 pct points to 18.11% by 1 March 2012 (0.55% decline versus Feb 2011).
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