Commercial banks’ consumer credits grow by 2% in February to 138.6 billion drams

YEREVAN, April 9, /ARKA/. Commercial banks’ consumer credits allocated to local companies grew by 2% in February from the previous month, to 138.6 billion Drams, the Central Bank of Armenia said in its monthly information bulletin.

According to the bulletin, posted on the central Bank’s official website, the largest portion of credits-21.2%- or 149.6 billion Drams, went to trade sector, growing by 6% from January. Industry was the second most attractive sector drawing some 20.6% of investments, however, the amount of credits in this sector dropped by 1.2% compared to January. Mortgage loans went up by 0.6% from January to 82.5 billion Drams.

Also some 54 billion Drams worth loans were channeled into construction sector, increasing by 2.4% from January. The volume of credits in agricultural sector grew by 3.7% to 44.8 billion Drams; credits to services sector grew 5.8% to 31.2 billion Drams while credits to transport and communications sector went up by 2.1% to 15.4 billion Drams.

The aggregate amount of credits to local economy increased by 2.2% in February from January (by more than 15.2 billion Drams) to 704.2 billion Drams. ($1 – 399.45 Drams).  -0-

Credit investments of commercial banks in local economy

(AMD, million)