Combined credit investments of Armenian banks in local economy grow to 805.6 billion drams

YEREVAN, November 8, /ARKA/. The combined credit investments of Armenian commercial banks in the local economy grew by 3.3% (or by 25.9 billion Drams) in September as opposed to August to stand at 805.6 billion Drams, according to a monthly bulletin of Armenia’s Central Bank for September 2010, posted on its official website.

The trade sector accounted for the largest share of 21.6% of all credit investments. In terms of money the figure was the equivalent of 174.1 billion Drams. The growth from the previous months was 4.3%. Credit investments in industrial sector grew by 7% to 173.7 billion Drams making 21.6% of all credit investments.

Consumer credits accounted for 18.5% of all credit investments. They grew by 2.5% from late August to 148.9 billion Drams. Credit investments in the mortgage market grew by 0.8% to 85.2 billion Drams. Credit investments in construction sector grew by 10% to 65.3 billion Drams, credit investments in agriculture fell by 1 % to 50 billion Drams. Credit investments in services grew by 5.2% to 38.1 billion Drams and credit investments in transport and communications sector grew by 1.2% to over 26 billion Drams. -0-

ARMENIAN BANKS’ CREDIT INVESTMENTS IN LOCAL ECONOMY BY SECTORS

(mln, AMD)