Friday, May 11 2012 22:13

Trade has biggest share in Armenian banks' loan book


ArmInfo. In Q1 2012 mining borrowed from Armenian banks some 51bln AMD ($131mln) - 87.6% more than in Q1 2011, trade was lent as much as 298bln AMD ($763mln) - 8.1% more than a year before.

The Central Bank of Armenia reports that consumer lending grew by 9.9% to 239bln AMD ($612mln). Agriculture borrowed 88bln AMD ($225mln) - 9% more than a year before, processing industry - 154.5bln AMD ($395.4mln) - 2% more.

Construction was lent 97.6bln AMD ($250mln) - 1.7% more than in Q1 2011. Mortgage lending grew by 1.9% to 112.4bln AMD ($287.7mln). Energy sector borrowed 79.5bln AMD ($203.4mln) - 2.5% more than a year before.

In Q1 2012 education received 2.3bln AMD ($6mln) - 24.1% less than in Q1 2011.

During the period the loan book of the Armenian banks grew by 5.6% to 1.4trl AMD ($3.5mln) or 67% of their assets (against 63% on Jan 1 2012).

As of Apr 1 2012 there were 21 commercial banks with 444 branches in Armenia against 411 branches Apr 1 2011.
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