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