ArmInfo. The head of the Central Bank of Armenia, Martin Galstyan, pointed out the lending activity in the banking system of Armenia. He announced this on April 30 during the press conference held in connection with the next reduction of the refinancing rate, this time to 8.25%.
"There was a time when the business activities of banks were mainly focused on opening accounts, servicing them, transfers, that is, not core work. Now we see that banks are actively lending," Galstyan said.
In particular, he emphasized that the total volume of lending as of the end of March had grown sufficiently. In this regard, the head of the Central Bank pointed to an increase in the rate of lending in the construction sector (by 11.2%), electricity production, agriculture, and trade. At the same time, he reported that consumer loans grew by 24.6%, mortgage lending by 23.5%. "It is these areas of lending that are very active," Galstyan concluded.
