In Jan-Aug 2015 Armenian banks lending dropped by 4.3%

ArmInfo. In Jan-Aug 2015, the Armenian banks' lending dropped by 4.3% to 2.057 trillion AMD as of 1 September 2015. According to the National Statistical Service of Armenia, as compared to Jan-Aug 2014, the lending was up 9.2%. The growth for August alone was 0.5%. Extended and overdue loans exclusive, the lending totaled 1.892 trillion AMD.

In Jan-Aug 2015, AMD lending dropped by 4.8% to 633.9 bln AMD (33.5% of total, extended and overdue loans exclusive), with forex lending falling by 5.2% to 1.259 trillion AMD or 66.5% of total.

In August 2015, the interest rates of AMD loans made up 18.86% versus 18.86% in July 2015, 16.26% in December 2014 and 17.12% in August 2014. (As of 31 August 2015, the AMD/USD exchange rate was 482.77 AMD/$1).