Wednesday, August 1 2012 20:15
Extended loans provided by Armenian commercial banks down 30% and overdue loans up 91% over year
ArmInfo. Over Q2 2012 Armenian commercial banks increased lending 10.5% to 1.489 trillion AMD ($3.562 bln) by 1 July 2012, with the growth versus Q2 2011 being 34.2%. Exclusive of extended and overdue loans, total provision of crediting grew 10.3% in Q2 (36.3% y-o-y growth) to 1.453 trillion AMD ($3.5 bln).
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 35.5% or 516.5 bln drams. Foreign exchange loans totaled 64.5% or 937 billion drams. AMD lending in Q2 2012 was up 5% (19.5% y-o-y increase). Foreign exchange lending rose 13% over Q2 2012 (47.8% y-o-y growth).
In the structure of loans provided by commercial banks as of July 1 2012 the share of extended loans was 1.8% or 26.9 bln AMD ($64.4 mln). The share of overdue loans was 0.6% or 8.7 bln AMD ($20.8 mln). Over Q2 2012 extended loans grew by 20% (30% y-o-y decline), and overdue loans grew by 21.8% (91% y-o-y growth).
In the structure of extended loans, the share of short-term loans was the largest - 77.6% or 21 billion drams. Almost all the overdue loans were short-term - 99.5% or 8.6 bln AMD.
The interest rates for the loans in terms of the national dram for Q2 2012 dropped by 1 points (by 0.5 points versus Q2 2011) and were fixed at 16.74% by 1 July 2012.
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