Monday, January 13 2014 15:35
In November 2013 financial organizations of Armenia reduced gold secured loans
ArmInfo. As of 1 Dec 2013 consumer lending in Armenia amounted to 366.7 bln AMD (23.2% y-o-y growth, 1.3% growth over November 2013). The Central Bank of Armenia reports that as of 1 Dec 2013 the share of consumer lending in the summary loan book of the banks and credit companies made up 19.3% versus 17.5% as of 1 Dec 2012.
By late November 2012 the share of bank loans in total consumer lending made up 95%, or 348.6 bln AMD, and the share of credit companies made up 5%, or 18 bln AMD. The consumer loans provided by the banks grew by 23% as compared with the same period of 2012, and by 1.3% over November 2013. The consumer loans provided by the credit companies rose by 2% over November 2% and by 28.3% as compared with the same period of 2012.
In the structure of consumer loans provided by the banks, as of 1 Dec 2013 the share of card loans made up 35.3%, or 123 bln AMD (30.6% y-o-y rise, 1.3% rise in November 2013). The share of gold-secured loans constituted 26.6%, or 92.6 bln AMD (2% y-o-y rise, 1% decline in November 2013). The share of bank loans for purchase of household and electric appliances made up 7.2%, or 25.1 bln AMD (53% y-o-y rise, 4.8% rise in Nove 2013). Auto loans made up over 5%, or 18.5 bln AMD (14% y-o-y rise, 0.8% rise in Nov 2013).
In the meantime, in the structure of consumer loans provided by the credit companies, the share of gold- secured constituted 17%, or 3 bln AMD (10% y-o-y rise, 3% decline in November 2013). The share of credit companies' loans for purchase of household and electric appliances constituted 9.3%, or 1.7 bln AMD (1.6% y-o-y rise, 2% rise in November 2013). The share of auto loans provided by credit companies made up 2.2%, or 402.8 mln AMD (36.2% y-o-y rise, 3% rise in November 2013). The share of card loans was 4.1 mln AMD. As of 29 November 2013, the AMD/USD exchange rate made up 403.91 AMD/$1.
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan