Tuesday, April 1 2014 19:20
Aggregate loan portfolio of Armenian banks up 1.2% for February 2014 mainly due to USD loans
ArmInfo. Armenian banks increased lending 9.4% 1.786 trillion drams as of March 1 2013 as compared to the same period of 2012. Exclusive of extended and overdue loans, total provision of crediting amounted to 1.654 trillion drams.
According to the preliminary data of the Central Bank of Armenia provided to ArmInfo by the National Statistical Service of Armenia, the share of loans in terms of the national currency (exclusive of extended and overdue loans) was 37.5% or 620.6 billion drams (up 0.2% for Feb and 13% y-o-y). Foreign exchange loans totaled 62.5% or 1.033 billion drams (up 1.4% for Feb and 1.8% y-o-y).
As of March 1 2014, the share of extended loans in total was 6% or 107 billion drams (up 0,3pp for Feb and 2.7pp y-o-y). The volume of extended loans grew 5.7% for Feb and almost twofold y-o-y.
The share of overdue loans for late 2013 was 1.4% or 25 billion drams. The volume of overdue loans grew 0.2% for Feb and nearly twofold y-o-y. The share of overdue loans in total loan portfolio of the banking system was left almost unchanged for Feb and grew 0.6 pp y-o-y.
In the structure of both extended and overdue loans, the share of short-term loans was the largest - 69.5% or 74.4 bln drams and 92.3% or 23.1 bln drams, respectively.
The interest rates for the loans in terms of the national dram for Feb 2014 were raised by 1.2pp and comparing to Feb 2013 - 1.56pp to 17.08% in average. (The exchange rate ofr Feb 28 2014 was 413.14 AMD/1 USD).
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