Tuesday, October 1 2013 19:10
Overdue loans in Armenia grew twofold over year
ArmInfo. By 1 September 2013, Armenian commercial banks reduced lending by 0.4% to 1.675 trillion drams (8% y-o-y growth). Exclusive of extended and overdue loans, total provision of crediting amounted to 1.57 trillion drams (0.5% decline in Aug 2013, 4.3% growth versus Aug 2012).
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 37% or 578.9 billion drams (up 2% versus Aug 2012, up 0.1% in August 2013). Foreign exchange loans totaled 63% or 990.8 billion drams.
In the structure of loans provided by commercial banks as of September 1 2013 the share of extended loans was 5% or 81.4 billion drams (up 2.5 times versus Aug 2012, down 1% in Aug 2013). The share of overdue loans was 1.4% or 23.6 billion drams (2-fold growth versus Aug 2012, 1.5% growth in August 2013).
In the structure of both extended and overdue loans, the share of short-term loans was the largest - 84% (68.3 bln AMD) and 98% (23.1 bln AMD), respectively.
The interest rates for the loans in terms of the national dram for Aug 2013 were raised by 0.5 points (down 0.3% versus Aug 2012) to 16.55%. The AMD/USD exchange rate as of 30 September 2013 was 406.24 AMD/1USD.
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