Thursday, November 8 2012 19:45

In Sept 2012 loans of Armenian banks grew by 1.9%


ArmInfo. In Sept 2012 the loans of Armenia's commercial banks grew by 1.9% to 1.551tln AMD or $3.743bln. As compared with Sept 2011 the index grew by 29.9%.

The Central Bank of Armenia reports that 35.3% of the loans or 522bln AMD were AMD loans, 64.7% or 955.7bln AMD foreign exchange loans. In Sept 2012 AMD lending declined by 8%, as compared with Sept 2011 it grew by 15%, foreign exchange lending grew by 1.9% and 40.2%, respectively.

2% of the loans or 30.4bln AMD were extended loans, 0.8% or 12.5bln AMD overdue loans.

80.4% of extended loans and 99% of overdue loans were short-term loans.

The interest rates of AMD loans dropped by 0.5% in Sept 2012 and by 1.3% as compared with Sept 2011 to 16.41%.
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