Aggregate loans to resident economy rise 2.7% in 2010 November

YEREVAN, January 24. / ARKA /. The aggregate volume of loans extended by Armenia’s commercial banks to resident economy rose 2.7% (about 22.5 billion Drams) at the end of 2010 November from the previous month of October to 845.6 billion Drams, the Central Bank of Armenia said in its monthly bulletin for November, posted on its official website.

The largest share of loans (22.5% or 190.4 billion Drams ) was channeled into industry. The figure represented a 4.2% rise from October. Trade sector (21.6%) accounted for the second largest share of loans, rising by 2.5% from October to the overall 182.8 billion Drams. Third were consumer credits with 18.3% share. They rose by 2.9% from October to 154.7 billion Drams. Mortgage loans rose by 1.3% from October to 86.2 billion Drams.

Loans channeled into construction sector rose by 4.3% to 70.8 billion Drams, lending to agriculture rose by 1% from October to 48.6 billion Drams, loans to services sector grew by 2.7% to 38.6 billion Drams and loans to transport and communications sector grew by 0.4% to 25.6 billion Drams. -0-

Loans extended by commercial banks to Armenian economy by sectors

(AMD, mln)