Tuesday, April 9 2013 18:50

Armenian banks prefer lending credits to trade and processing sector


ArmInfo. In Feb 2013 the banks of Armenia lent 1.21tln AMD to the country's economy or 73.8% of their loan book. This is 2.9% more than in Jan 2013 and 22% more than in Feb 2012.

Just like in Jan 2013 preference was given to trade, which received 326.2bln AMD (162.9bln AMD to wholesale and 147.9bln AMD to retail) and processing sector 166.8bln AMD (62.4bln AMD to food industry, 35.1bln AMD to beverage industry).

Power and gas supply sector received 11.1bln AMD (1.5% more than in Jan 2013 and 47.8% more than in Feb 2012).

Agriculture received 105.9bln AMD (2.7% and 26% more, respectively), wherein 44.8bln AMD was lent to plant growing and 46bln AMD to cattle breeding.

Construction received 100.5bln AMD (0.3% more than in Jan 2013 and 4% more than in Feb 2012), wherein 82.2ln AMD was lent to housing construction and 11.7% to road building.

Ore mining sector received 93.3bln AMD (3.7% more than in Jan 2013 and 93.8% more than in Feb 2012). Of this sum 77.4bln AMD was lent to mining of metallic ore, 2.8bln AMD to mining of construction materials.

Financial sector received 88.2 bln AMD, with 53.9 bln AMD of this amount being interbank loans. In February the loans provided to the financial sector grew by 14.5% (3.5% more than in Feb 2012).

The share of mortgage loans in the Armenian banks' loan book made up 7.8% or 127 bln AMD, and the share of consumer loans - 18.4% or 302 bln AMD. In Feb 2013 the volume of mortgage loans increased by 0.7% (15.7% growth versus Feb 2012), and consumer loans - by 0.6% (29% growth versus Feb 2012). As of Feb 28 2013, the exchange rate was 409.22 AMD/$1.
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