Commercial banks’ total credit investments in local economy grow by 2.2%

YEREVAN, December 7, /ARKA/. Armenian commercial banks’ total credit investments in the local economy grew by 2.2% in October from September to 823.1 billion Drams, the Central Bank of Armenia said in a statement posted on its official website.

It said the largest volume of loans -22.2%- or 182.7 billion Drams- were channeled into the industrial sector, rising by 5.3% from September. The second largest portion of loans – 21.7% or 178.4 billion Drams- went to

trade sector, rising by 2.5% from September. Some 18.3% of all loans were extended as consumer credits, rising by 1% from September to 150.4 billion Drams. Mortgage credits fell by 0.1% to 85.1 billion Drams. Loans to construction sector grew by 4.1% to 68 billion Drams, loans to agriculture sector fell by 3.1% to 48.1 billion Drams. Loans to services sector fell by 1.3% to 37.6 billion Drams and loans to transport and communications sector fell by 2.2% to 25.5 billion Drams. M.M. -0-

ARMENIAN BANKS CREDIT INVESTMENTS TO LOCAL ECONOMY BY SECTORS

(mln, AMD)