Lending by Armenian banks dropped by 3.8% in Jan-Nov 2015

ArmInfo. In Jan-Nov 2015, the lending by Armenian banks dropped by 3.8% to 2.068 trillion AMD as of 1 Oct 2015. According to the National Statistical Service of Armenia, the lending grew by 2.6% as compared to Jan-Nov 2014, and by 1.7% in Nov 2015 versus Oct 2015. Extended and overdue loans exclusive, the lending by the banks amounted to 1.907 trillion AMD.

In Jan-Nov 2015, the AMD lending declined by 3% to 645.7 bln AMD (33.8% of total lending, extended and overdue loans exclusive), with forex lending dropping by 5% to 1.261 trillion AMD or 66.2% of the total amount (extended and overdue loans exclusive). As compared to Jan-Nov 2014, AMD lending dropped by 2.8%, while forex lending grew by 4.6%. In November alone these indices rose by 0.9% and 2.9%, respectively.

In November 2015, the interest rates for AMD loans made up 17.02% versus 17.88% in September, 16.26% in December 2014 and 15.1% a year before. (As of 30 Nov 2015, the AMD/USD exchange rate made up 480.15 AMD/$1).