Monday, May 5 2014 15:17
Aggregate loan portfolio of Armenian banks up 2% for the 1Q 2014
ArmInfo. As of 1 April 2014, Armenian banks increased lending 2% - 1.811 trillion drams, and by 10,8% versus 1 April 2013. Exclusive of extended and overdue loans, total provision of crediting amounted to 1.684 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 38% or 636 billion drams. Foreign currency loans grew by 1,7% for the 1Q 2014 and by 4,2% versus the 1Q 2013.
As of April 1 2014, the share of extended loans in total was 5,6% or 101 billion drams. The volume of extended loans grew 4.7% for the 1Q and almost twofold versus the 1Q 2013.
As of 1 April 2014, the share of overdue loans was 1.4% or 25,9 billion drams. The volume of overdue loans grew 21,7% for the 1Q and nearly twofold versus the 1Q 2013. The share of overdue loans in total loan portfolio of the banking system grew 0,2 pp and 0,6 pp versus the 1Q 2013.
In the structure of the extended loans, the share of the short-term and long-term loans was the largest, and in the overdue loans - chiefly the share of the short-term loans. The share of the short-term loans in the extended loans was 58,1% or 58,7 billion AMD, and of the long-term loans - 90,4% or 23,4 billion AMD.
The interest rates for the loans in terms of the national dram for the 1Q 2014 were raised by 1.7pp and comparing to the 1Q 2013 dropped by 0,4 pp to 16.72% in average. (The exchange rate for 31.03.14 was 413.31 AMD/1 USD).
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