Tuesday, October 1 2013 19:35
As of 1 Sept 2013 consumer lending in Armenia grew by 25% to 351.6 bln AMD
ArmInfo. As of 1 Sept 2013, consumer lending in Armenia totaled 351.6 bln AMD (25% y-o-y growth, 1% growth in Aug 2013). The Central Bank of Armenia reports that the share of consumer lending in the summary loan book of the banks and credit companies made up 19% against 17% in the same period of 2012.
In the total volume of consumer loans, the share of loans provided by the banks made up 95% or 334.6 bln AMD by 1 September 2013, and the share of loans provided by the credit companies was 5% or 17 bln AMD. As compared with the same period of 2012, consumer lending of the banks grew by 25% (1% growth in Aug 2013), and consumer lending of the credit companies grew by 39% (2% growth in Aug 2013).
The share of card loans in the banks' consumer loan book made up 34% or 114bln AMD (37% more than in Aug 2012 and 2% more than in July 2013), the share of gold-secured loans made up 29% or 98bln AMD (5.5% growth and 3% drop, respectively), the share of loans for the purchase of domestic appliances made up 7% or 22bln AMD (39% and 5.1% respective growths), the share of auto loans made up 5% or 18bln AMD (+15% and +2%).
The share of gold-secured loans in the consumer loan book made up 18% or 3bln AMD (26% more than in Aug 2012 and 2% more than in July 2013), the share of loans for the purchase of domestic appliances made up 10% or 2bln AMD (15% and 4% respective growths), the share of auto loans made up 2% or 356.3mln AMD (+24% and +0.1%).
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