Tuesday, January 8 2013 21:23
In Nov 2012 extended loans up 16%, overdue loans down 12.7%
ArmInfo. In November 2012, Armenian commercial banks increased lending 1.7% to 1.552 trillion ($3.829 bln) by 1 December 2012 (24.5% more than a year before). Exclusive of extended and overdue loans, total provision of crediting grew by 1.5% in Nov 2012 versus Oct 2012 and by 24.9% versus Nov 2011 and amounted to 1,510.7 bln AMD ($3.727 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 35.3%, or 533.8 billion drams (up 0.5% for November versus October, and up 10.5% versus Nov 2011). Foreign exchange loans totaled 64.7%, or 976.9 billion drams (up 2.1% for Nov 2012 versus Oct 2012 and up 34.3% versus Nov 2011).
In the structure of loans provided by commercial banks as of 1 December 2012 the share of extended loans was 2% or 31.2 billion drams (77 mln USD, up 16% versus Oct 2012 and up 17.5% versus Nov 2011). The share of overdue loans was 0.7%, or 10.4 bln AMD ($25.6 mln, down 12.7% versus Oct 2012 and down 7% versus Nov 2011).
In the structure of extended loans, the share of short-term loans was the largest - 81.1%, or 31.2 bln AMD. Almost all the overdue loans were short-term - 98.5%, or 10.4 bln AMD.
The interest rates for the loans in terms of the national dram for Nov 2012 were reduced by 0.13 points to 17.04% (down 1.07 points as compared to Nov 2011).
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