Wednesday, May 23 2012 20:13

Share of foreign exchange crediting of Armenia's economy grew by 57.3% to 62% by March 2012


ArmInfo. In the total volume of the real sector crediting in Armenia, the share of foreign exchange loans provided to the residents made up 62% by March 2012, having grown by 4.7 pct points in Feb 2012 versus Feb 2011, and by 1.4 pct points versus Dec 2011. To recall, over Q1 2011 this index was up 1.9 pct points to 58.5%, over Q2 it was down 0.1 pct points to 58.6%, over Q3 2012 the index grew by 1 pct point to 59.4%, and over Q4 it rose by 0.8% to 60.6%.

According to the monthly issue of the Central Bank of Armenia, by 1 March 2012 the banking system provided loans worth 1.3 trillion AMD (4.4% growth in Jan-Feb 2012, 2.7% in February), almost 1.281 trillion AMD of them - to the residents. In the structure of the loans, almost 64% fell on legal entities (9.2% growth over Jan-Feb 2012). The biggest share of foreign exchange loans (long-term loans) fell on the industrial sector (food industry, ore mining sector, production of beverages), housing construction, energy, trade, and agriculture.

43.6% of money supply were resident foreign exchange deposits against 43.7% in Jan 2012 and 45.6% in Q1 2011.

61.2% of resident deposits were foreign exchange deposits against 61.7% in Jan 2012 and 65.1% in Q1 2011.

54.6% of call deposits were resident foreign exchange deposits against 55.3% in Jan 2012 and 59.9% in Q1 2011.

74.3% of individual resident time deposits were foreign exchange deposits against 75.5% in Jan 2012 and 78.9% in Q1 2011.

According to Armenia's Central Bank, in Q1 2012 Armenia's banks attracted deposits worth 1trl AMD (0.8% growth in Feb 2012, 1.4% drop in Jan-Feb 2012), of which 778.5bln AMD were attracted from residents (274.5bln AMD being call deposits and 504bln AMD time deposits).
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