Tuesday, October 1 2013 20:12

Mortgage lending in Armenia up 11% over year


ArmInfo. As of 1 September 2013, financial organizations provided mortgage loans worth 155.3 bln AMD. As compared with the same period of 2012, mortgage lending in Armenia grew by 11% (up 1% in August 2013). The Central Bank of Armenia reports that as of 1 Sept 2013 the share of mortgage loans in the aggregate loan book of the banks and credit companies made up 8.3% against 8% in the same period of 2012.

The source says that the y-o-y growth in the mortgage loan book of Armenia's financial organizations was mostly due to the increase in mortgage loans provided by the banks, whose share in the aggregate portfolio of mortgage loans was 88% or 136.8 bln AMD (11% y-o-y growth, 1% growth in August 2013). The share of mortgage loans provided by the credit companies was 12% or 18.5 bln AMD (14% y-o-y growth, 2.5% growth in August 2013).

As of Sept 1 2013 the share of loans to buy real estate in banks' mortgage loan book made up 106.3bln AMD (13% more than on Sept 1 2012 and 2% more than on Aug 1 2013). The share of home improvement loans dropped by 2% and grew by 0.5%, respectively, to 23bln AMD.

As of Sept 1 2013 the share of loans to buy real estate in credit companies' mortgage loan book made up 9.7bln AMD (10% more than on Sept 1 2012 and 2% more than on Aug 1 2013). The share of home improvement loans grew by 19.5% and 4%, respectively, to 8.6bln AMD.
POST A COMMENT
Input digits     


News
Expert: Armenia`s economy  turning into service economy without   industrial baseExpert: Armenia`s economy  turning into service economy without   industrial base
Armenia will never refuse to purchase Russian grain: PashinyanArmenia will never refuse to purchase Russian grain: Pashinyan
1.94 million tourists visited Armenia in 10 months1.94 million tourists visited Armenia in 10 months
Dalan Technopark announces its first bond issuance Dalan Technopark announces its first bond issuance 
Armenian Card to start issuing co-branded cards with MasterCard and  Union Pay international payment systemsArmenian Card to start issuing co-branded cards with MasterCard and  Union Pay international payment systems
EDB to provide ZCMC with $10 million loan to digitize internal  business processesEDB to provide ZCMC with $10 million loan to digitize internal  business processes
Complete nonsense: Pashinyan on FSI report about Yerevan`s alleged  switch from Russian grain to Ukrainian grainComplete nonsense: Pashinyan on FSI report about Yerevan`s alleged  switch from Russian grain to Ukrainian grain
Armenian users account for 9% of  FDI`s Armenian users account for 9% of  FDI`s "Jobs in  EAEU" project
FCI  to support Armenia in connecting to  global  AI SuperCloud`s  AI  platform FCI  to support Armenia in connecting to  global  AI SuperCloud`s  AI  platform 
Kremlin  comments on  FIS report about Armenia`s intention to stop  purchasing Russian grainKremlin  comments on  FIS report about Armenia`s intention to stop  purchasing Russian grain
Reserve fund to prevent macroeconomic stability risks to be  established - CBA chairman Reserve fund to prevent macroeconomic stability risks to be  established - CBA chairman 
Armenia plans to purchase grain from Ukraine instead of Russian grain Armenia plans to purchase grain from Ukraine instead of Russian grain 
Armenia`s national debt stable and predictable - minister Armenia`s national debt stable and predictable - minister 
Armenian FM visits State of Green in CopenhagenArmenian FM visits State of Green in Copenhagen
Emergence of risks should be viewed as source of development by  utilizing existing opportunities and ideas - minister Emergence of risks should be viewed as source of development by  utilizing existing opportunities and ideas - minister 
Armenia and Oman intend to increase mutual tourism flow.Armenia and Oman intend to increase mutual tourism flow.
Central Asia and South Caucasus to lead in warehouse infrastructure  growth through 2040 - EDBCentral Asia and South Caucasus to lead in warehouse infrastructure  growth through 2040 - EDB
Armenian, Danish FMs discuss development of bilateral sectoral  cooperation Armenian, Danish FMs discuss development of bilateral sectoral  cooperation
Central Bank cementing everything for security, but  losing investor  interest - expert on Armenian crypto regulationCentral Bank cementing everything for security, but  losing investor  interest - expert on Armenian crypto regulation
25 billion AMD Government bonds allocation auction took place on AMX25 billion AMD Government bonds allocation auction took place on AMX
Mariam Hambardzumyan: Armenia`s education system not adapted to meet  the needs of  businessesMariam Hambardzumyan: Armenia`s education system not adapted to meet  the needs of  businesses
Expert: AI will not replace people, but rather those who don`t use AIExpert: AI will not replace people, but rather those who don`t use AI
Idram Junior Participants Receive Prizes: The First Junius Financial Literacy Competition ConcludesIdram Junior Participants Receive Prizes: The First Junius Financial Literacy Competition Concludes
Starting in 2026, conclusion, termination, and modification of  employment contracts in Armenia to be carried out exclusively through  digital platformStarting in 2026, conclusion, termination, and modification of  employment contracts in Armenia to be carried out exclusively through  digital platform
Armenia, Saudi Arabia planning to expand economic cooperation in  several areasArmenia, Saudi Arabia planning to expand economic cooperation in  several areas
Armenian parliamentary opposition demanding price of Kazakh grain  delivered to Armenia Armenian parliamentary opposition demanding price of Kazakh grain  delivered to Armenia 
Hovhannes Khachatryan: Armenia`s digitalization is progressing  steadily, changing the architecture of interaction and identificationHovhannes Khachatryan: Armenia`s digitalization is progressing  steadily, changing the architecture of interaction and identification
Supply of fourth-grade wheat from Kazakhstan means Armenia also needs  it, official saysSupply of fourth-grade wheat from Kazakhstan means Armenia also needs  it, official says
Under `We Are Our Mountains` program, 12 families in Tatev community  received grants to implement their business ideasUnder `We Are Our Mountains` program, 12 families in Tatev community  received grants to implement their business ideas
Gold price rise stems from global processes - economists Gold price rise stems from global processes - economists 
Duty on metal fitting import to be raised in ArmeniaDuty on metal fitting import to be raised in Armenia
Saudi Arabia`s Public Investment Fund considering investing in  ArmeniaSaudi Arabia`s Public Investment Fund considering investing in  Armenia
Armenia and Kazakhstan discuss opportunities to develop cooperation  in digitalizationArmenia and Kazakhstan discuss opportunities to develop cooperation  in digitalization
Armenia`s ICT sector revenue grew by double-digits in the first nine  monthsArmenia`s ICT sector revenue grew by double-digits in the first nine  months
Service sector revenue accelerated in the first nine monthsService sector revenue accelerated in the first nine months
Armenia`s trade sector generated $12.1 billion in revenue in the  first nine monthsArmenia`s trade sector generated $12.1 billion in revenue in the  first nine months
Kazakhstan`s national grain operator ready to supply Armenian  consumers with approximately 15,000- 20,000 tons of food grain  monthlyKazakhstan`s national grain operator ready to supply Armenian  consumers with approximately 15,000- 20,000 tons of food grain  monthly
Armenia`s telecommunications revenue growth slowingArmenia`s telecommunications revenue growth slowing
Armenia`s metallurgy sector decreased by 10% in the first nine monthsArmenia`s metallurgy sector decreased by 10% in the first nine months
Cargo transportation in Armenia increased by 1.6% over the first nine  months, while passenger transportation decreased by 2.4%Cargo transportation in Armenia increased by 1.6% over the first nine  months, while passenger transportation decreased by 2.4%
Power generation in Armenia increased by 8.2% in the first nine  monthsPower generation in Armenia increased by 8.2% in the first nine  months
Wine production dropped by 36% and  cognac by 34.4% in the first nine  months Wine production dropped by 36% and  cognac by 34.4% in the first nine  months 
5,312,038 AMD for “Symphonic Forest”: the November beneficiary is AI4Biodiversity: AI Solutions for Nature, a national hackathon5,312,038 AMD for “Symphonic Forest”: the November beneficiary is AI4Biodiversity: AI Solutions for Nature, a national hackathon
Expert on small nuclear power plants: The hardest thing of all is to  find a cat in a dark room, especially if there is no catExpert on small nuclear power plants: The hardest thing of all is to  find a cat in a dark room, especially if there is no cat
PSRC planning to revoke Electric Networks of Armenia CJSC`s operating  licensePSRC planning to revoke Electric Networks of Armenia CJSC`s operating  license
Armenian minister of economy takes part in 124th meeting of UNWTO  Executive CouncilArmenian minister of economy takes part in 124th meeting of UNWTO  Executive Council
Armenia, Iran discuss prospects for cooperation in tourism sectorArmenia, Iran discuss prospects for cooperation in tourism sector
Armenia`s first satellite, Armsat-1,  entered controlled deorbit  phaseArmenia`s first satellite, Armsat-1,  entered controlled deorbit  phase
Pashinyan: Investments in Armenia`s military-industrial complex  amounted to approximately $450 million over past two yearsPashinyan: Investments in Armenia`s military-industrial complex  amounted to approximately $450 million over past two years
Armenia`s industrial sector declined by 5.7% in January-September  2025Armenia`s industrial sector declined by 5.7% in January-September  2025
TEAM`s 5G network  available in Gyumri and VanadzorTEAM`s 5G network  available in Gyumri and Vanadzor
Economy Minister discussed rebranding of Armenian brandy with  producersEconomy Minister discussed rebranding of Armenian brandy with  producers
Dollar, ruble transactions   decreased in Armenia`s  interbank  foreign exchange market from November 3- 7, 2025Dollar, ruble transactions   decreased in Armenia`s  interbank  foreign exchange market from November 3- 7, 2025
Fly Cham to launch Aleppo-Yerevan flightsFly Cham to launch Aleppo-Yerevan flights
FLYONE ARMENIA to launch new Yerevan-Batumi - Yerevan flight next  yearFLYONE ARMENIA to launch new Yerevan-Batumi - Yerevan flight next  year
Armenia among top 10 popular destinations for Russian tourists,  according to results of  first nine months of 2025Armenia among top 10 popular destinations for Russian tourists,  according to results of  first nine months of 2025
Armenia, India discuss possible cooperation in defense industry Armenia, India discuss possible cooperation in defense industry 
Armenian MP proposes rising duty on metal fitting Armenian MP proposes rising duty on metal fitting 
New route through Azerbaijan to strengthen sustainability of supplies  of Russian agricultural products to regoinal countriesNew route through Azerbaijan to strengthen sustainability of supplies  of Russian agricultural products to regoinal countries
AraratBank Honoured with STP Award by Commerzbank AGAraratBank Honoured with STP Award by Commerzbank AG
Read more
Exchange rates
12.11.2025
RUB4.720.01
USD382.09-0.43
EUR442.04-0.69
GBP501.45-1.10
CAD272.59-0.05
JPY24.67-0.13
CNY53.68-0.05
CHF477.910.95


Experts
Mariam Hambardzumyan: Armenia`s education system not adapted to meet  the needs of  businessesMariam Hambardzumyan: Armenia`s education system not adapted to meet  the needs of  businesses
Expert: AI will not replace people, but rather those who don`t use AIExpert: AI will not replace people, but rather those who don`t use AI
Gold price rise stems from global processes - economists Gold price rise stems from global processes - economists 
Read more

Commented
ATI.SU: Demand for international cargo transportation 30% up in  ArmeniaATI.SU: Demand for international cargo transportation 30% up in  Armenia
Civil Contract nominates Armen Ktoyan for  Central Bank Board Member  positionCivil Contract nominates Armen Ktoyan for  Central Bank Board Member  position
Armenia, France considering prospects for expanding technological  cooperation  Armenia, France considering prospects for expanding technological  cooperation  

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2