AMD lending by Armenian banks declined by 1.6% at the end of January

ArmInfo. As of February 1, the lending by Armenian banks totaled 2.086 trillion AMD dropping by 0.7% versus the indicator of last year. According to the National Statistical Service of Armenia, the lending dropped by 0.1% in January. Extended and overdue loans exclusive, the lending by the banks amounted to 1.935 trillion AMD.

According to the source, the AMD lending declined by 1.6% year-over- year to 647.2 bln AMD (33.4% of total lending, extended and overdue loans exclusive), with forex lending growing by 0.3% to 1.287 trillion AMD or 66.6% of the total amount (extended and overdue loans exclusive). In January AMD lending dropped by 2.9%, while forex lending grew by 1.1%.

According to the source, the interest rates for AMD loans made up 16.96% in January versus 16.77% last year and 15.96% in December.  (As of 31 Jan 2016, the AMD/USD exchange rate made up 488.75 AMD/$1).