Overdue loans in Armenian banks up 10.1% over year

ArmInfo. The overdue loans in Armenian banks grew by 10.1% to 34.8 bln AMD by 1 December 2015. The National Statistics Service of Armenia reports that in Jan-Nov 2015 the overdue loans grew by 7%. The share of overdue loans in the total loan book made up 1.7% versus 1.6% a year before and 1.5% as of early 2015.

In the meantime, the extended loans amounted to 126.2 bln AMD, with an 11.6% year-over-year growth (2.3% rise as compared with early 2015). In November, the share of extended loans in the total amount of lending made up 6.1% versus 5.6% a year before and 5.7% as of early 2015.

To note, in Jan-Nov 2015, the lending by Armenian banks dropped by 3.8% to 2.068 trillion AMD as of 1 Dec 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. (As of 30 Nov 2015, the AMD/USD exchange rate made up 480.15 AMD/$1).