Monday, January 21 2013 20:41
Aggregate loan book of Armenian credit companies up 41% over year
ArmInfo. By late November 2012, the aggregate loan book of Armenia's credit companies totaled 150.7 bln AMD, or $371.7 mln (41% growth versus Nov 2011, 1.9% growth versus Oct 2012). Most loans (68.2%) were in terms of Armenian dram.
The Central Bank of Armenia says that the growth of the loan book was mostly due to lending to economy, which totaled 119.5 bln AMD ($294.8 mln) or 79.3% (56.2% growth versus Nov 2011, and 1.4% growth versus Oct 2012). The three leading spheres in the structure of lending to economy are the financial sector (36.6%), agrarian sector (22.9%) and trade sector (16%).
Lending to the financial sector was amounted to 43.8 bln AMD, with 83.9% being AMD loans (30.3% versus Nov 2011, and 1.1% decline versus Oct 2012). In their structure, interbank loans/ deposits made up 89.5%.
Agriculture received loans worth 27.4bln AMD or $67.mln (36.3% more than in Jan-Nov 2011). 50.7% of the loans were used in cattle breeding, 46.5% in plant growing.
Trade received loans worth 19.1bln AMD or $47.2mln (37.4% more than a year before). 57.4% of the loans were in foreign exchange, 81% were used in retail trade, 17.3% in wholesale trade.
In Jan-Nov 2012 the credit companies had issued mortgage loans worth 17bln AMD ($41.9mln) - 39.3% more than in Jan-Nov 2011 - and consumer loans worth 14bln AMD - 81.9% more than a year before. 19.6% of the loans were gold-secured loans, 11.8% loans for installment purchase of domestic appliances and 2% auto loans.
As of Dec 1 2012 there were 32 credit organizations in Armenia - 1 more than on Oct 1 2011.
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