Thursday, July 4 2013 19:48

Over May 2013 Armenian banks increased economy lending by 3.4, focusing on trade and processing sectors


ArmInfo. By 1 June 2013 Armenian banks increased economy lending by 3.4% over May to 1.222 trillion AMD (up 18.2% versus May 2012).

The Central Bank of Armenia (CBA) says that as of 1 June 2013 a total of 388.7 bln AMD was lent to the trade sector (170.2 bln AMD to wholesale trade and 152.7 bln AMD to retail trade). Loans provided to the trade sector rose by 1.6% over May 2013 and by 6.5% versus May 2012. Processing industry received 166 bln AMD (down 1.5% over May 2013, up 3.6% versus May 2012), of which 58.7 bln AMD was lent to food industry and 34.9 bln AMD to production of beverages.

Lending to the field of electric power and gas supply totaled 122 bln AMD (up 1.9% over May 2013, up 41.7% versus May 2012). Agriculture lending amounted to 119 bln AMD (up 3.7% over May 2013, up 20% versus May 2012).

Financial sector received loans worth 111 bln AMD (up 28.3% over May 2013, up 50.8% versus May 2012), including 70.2 bln AMD interbank loans. Lending to construction totaled 103.8 bln AMD (down 0.2% over May 2013, up 5.6% versus May 2012). Lending to hotel business and public catering totaled 53.9 bln AMD (up 0.8% over May 2013, up 29% versus May 2012). The sphere of cargo transportation and storage facilities received 42 bln AMD (up 4% over May 2013, down 8% versus May 2012). Lending to mining industry amounted to 35 bln AMD (up 11.7% over May 2013, down twofold over May 2012).

The share of mortage lending in the Armenian banks' loan book was 7.9%, or 132.5 bln AMD (up 1.7% over May 2013, up 13.4% versus May 2012), and the share of consumer loans was 19.4%, or 327.9 bln AMD (up 6.8% over May 2013, up 28.5% versus May 2012). As of May 31 2013 the AMD/1USD exchange rate was 417.22 AMD/$1.
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