YEREVAN, November 15, /ARKA/. The volume of credit funds, issued by Armenian crediting organizations to resident borrowers, including factoring, leasing and placed deposits grew by 0.2% in the third quarter to 76.3 billion Drams, if compared to quarter two, the Central Bank of Armenia said in its quarterly review of crediting organizations’ performance.
The largest growth of credits, 10.3%, was registered in trade sector (11.5 billion Drams). Construction sector accounted for 5.5% growth (4.6 billion Drams). Mortgage lending increased by 5.2% to 9.1 billion Drams, while consumer loans rose by 3.6% to 4.1 billion Drams. Lending to financial sector was said to have risen by 2.9% to 22.5 billion Drams and to transport and communications sector by 0.8% to 2.2 billion Drams.
Lending to agricultural sector dropped by 6.4% to 12.1 billion Drams and lending to other sectors of economy contracted by 3.3% to 5.7 billion Drams. The financial sector accounted for the largest portion of credits – 29.5%. It was followed by agriculture with 16%, trade -15.1%, mortgage credits- 12%, construction -5.9% and industry – 6%. Five percent of lending were consumer credits. There are 32 crediting organizations in Armenia with 60 branches.($1 – 364.00 Drams). -0-
