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Combined credit investments of Armenian banks in resident economy grew 0.7% in January

YEREVAN, March 10, /ARKA/. Combined credit investments of Armenian banks in the resident economy in the first month of 2011 grew by 0.7% or 5.8 billion Drams from 2001 December to 891.7 billion Drams, according to a Central Bank of Armenia’s monthly bulletin for 2011 January, posted on its official website.

The largest portion of credit investments -32.5%- was channeled into industrial sector. In terms of figures it was equal to 209.2 billion Drams growing by 2.6% from 2010 December. Credit investments in trade dropped by 1.4% in January from 2010 December to 182.3 billion Drams. They accounted for 20.4% of the combined investments. Consumer credits grew by 1.1% to 165.6 billion Drams accounting for 18.6% of the combined credit investments. Mortgage loans fell by 0.2% from 2010 December to 88 billion Drams. Credit investments in construction sector contracted by 1.1% to 74 billion Drams, lending to agricultural sector grew by 0.4% to 52.6 billion Drams, lending to

services sector fell by 3.8% to 39 billion Drams and lending to transport and communications sector grew by 7.6% to 27.6 billion Drams.  -0-

Credit investments in resident economy

(AMD, mln

December

2010

January

2011

Industry 203844 209185
Agriculture 52365 52593
Construction 74795 73976
Transport and communications 25661 27617
Trade 184821 182297
Services 40464 38925
Consumer credits 163711 165556
Mortgage credits 88114 87977
Other 52119 53566
total 885893 891692
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