Monday, August 27 2012 20:58
Armenian credit companies are most active in lending money to financial sector, agriculture and trade
ArmInfo. In Jan-July 2012 Armenia's credit companies issued resident loans worth 141bln AMD or $346mln: 59.7% more than in Jan-July 2011, 25% more than in Jan 2012 and 5.7% more than in June 2012.
The press service of the Central Bank of Armenia reports that 65.1% of the loans or 92bln AMD ($225.7mln) were AMD loans.
The financial sector, agriculture and trade received over 61% of all loans (29%, 19% and 13%, respectively).
The financial sector received 40.4bln AMD or $99.1mln (77.6% in AMD). 88% of the loans were bank loans and deposits.
Agriculture received 27.3bln AMD or $66.9mln (88.5% in AMD), trade received 18.4bln AMD or $45mln (40.8% in AMD and 59.2% in foreign exchange). 78.8% of the loans were given to retail trade, 19.7% to wholesale trade.
Construction received 5.5bln AMD (twice as much as a year before). 80% of the loans were in foreign exchange and were spent on housing construction.
Over the month under review, the credit companies' mortgage loans were up 9.6% (39.5% y-o-y growth) to 15.9 bln AMD ($39 mln) by 1 August 2012. 63% or 10 bln AMD ($24.5 mln) of this amount fell on AMD loans. In the meantime, the consumer loans amounted to 11.6 bln AMD ($28.5 mln) - mostly in terms of Armenian drams (5.4% growth over July, 78.5% y-o-y growth). In the structure of consumer loans nearly 20% fell on gold secured loans, about 14% - on loans for installment purchase of appliances, and more than 2% - on car loans.
The credit companies' loans to ore mining sphere grew more than twofold (0.6% decline over July) to 654.2 mln AMD ($1.6 mln), with 67.7% of these loans being in terms of Armenian drams. The loans to the processing sphere grew by 79.6% over year (8.9% growth over July) to 7.8 bln AMD ($19.2 mln) by 1 August 2012; with the AMD loans being 63.8% or 5 bln AMD ($12.3 mln). In the structure of loans provided to the processing sphere by the credit companies, 31.5% or 2.5 bln AMD ($6.1 mln) fell on food industry.
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