Armenian bank credit investments grow to 779.7 billion drams

Banks

YEREVAN, October 7, /ARKA/. At the end of August a total of 779.7 billion Drams were invested by Armenian banks in the local economy, by 1.6% or 12.6 billion Drams more than at the end of July, the Central Bank of Armenia said in its monthly bulletin for August, posted on its official website.

The largest portion of investments – 21.4% or 167 billion Drams- was channeled into trade, rising by 2.2% from July. Industry accounted for the second largest share of bank investments at 20.8%. Investments in industry rose by 6.7% from July to 162.4 billion Drams. Consumer credits came third rising by 18.6 percent from July to 145.2 billion Drams. Mortgage credits dropped by 0.7% to 84.5 billion Drams.

Investments in construction slashed by 6.3% to 59.3 billion Drams, investments in agriculture contracted by 2% to 50.5 billion Drams, those in services grew by 3% to 36.2 billion Drams and investments in transport and communications went up by 7.5% to 257 billion Drams. -0-

ARMENIAN BACKS CREDIT INVESTMENTS IN ECONOMY BY SECTORS

(AMD, in mln)

Sectors Dec. 2009 Jan. 2010 Feb. 2010 March 2010 April 2010 May 2010 June 2010 July 2010 Aug. 2010
Industry 146969 146932 145142 153255 136598 139353 152072 152424 162355
Agriculture 44177 43216 44802 48058 47846 47608 48690 51526 50493
Construction 54132 52610 53873 57481 59553 59380 58775 63299 59299
Transport 15430 15070 15393 17841 20096 20738 22189 23911 25722
Trade 145492 141092 149611 160976 158626 161574 164691 163368 167021
Services 29712 29523 31238 32434 34954 35339 34115 35171 36241
Consumer credits 136435 135890 138630 142711 144277 145271 143833 143324 145254
Mortgage credits 83960 81964 82486 85140 83761 83502 83483 85127 84497
Other 42613 42620 42986 44686 46923 48686 47686 48997 48847
Total 698920 688918 704162 742583 732633 741449 755537 767147 779729
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