Armenian banks’ lending to economy reaches AMD 885.9 billion by late December 2010

YEREVAN, February 14. /ARKA/. Armenian banks’ aggregate lending to resident economy grew 4.8% or by AMD 40.3 billion over December 2010 reaching AMD 885.9 billion by the end of that month, the Central Bank of Armenia said in its monthly report. The report is available on the central bank’s official website.

Loans extended to industry accounted for 23% of the banks’ credit portfolio in late December 2010.

Banks lent AMD 203.8 billion to industry (7% growth, compared with November).

Lending to the trade sector constituted 20.9% of the banks’ aggregate loan portfolio. It grew 1.1% over December, compared with November, to AMD 184.8 billion.

Consumer loans amounted to AMD 163.7 billion in late December after growing 5.8%, compared with November, and made up 18.5% of the banks’ loan portfolio.

Mortgage loans grew 2.2% to AMD 88.1 billion.

Banks lent AMD 74.8 billion to construction (5.6% growth), AMD 52.4 billion to agriculture (7.7% growth), AMD 40.5 billion to services sector (4.7% growth) and AMD 25.6 billion to transport and communication sector (0.1% growth). -0-

Armenian commercial banks’ lending to resident economy

(AMD million)