Combined outstanding credit portfolio of Armenian banks grows by 3.1% in late February to 919.3 billion drams

YEREVAN, April 12, /ARKA/. The combined outstanding credit portfolio of Armenian commercial banks grew by 3.1% (27.6 billion Drams) in late February from the previous month of January to 919.3 billion Drams, according to the Central Bank of Armenia (CBA) monthly bulletin for February, posted on its official website.

Industry accounted for 23.5% or 216.5 billion Drams of all outstanding loans. The volume of lending to this sector grew by 2.9% from January. Some 20.4% of all loans were provided to trade sector. Lending to it grew by 2.9% from January to a total of 187.6 billion Drams. Consumer credits accounted for 18.5% of all outstanding loans growing by 2.8% from January to 170 billion Drams. Mortgage lending grew by 1.2% to 88.9 billion Drams.

Lending to construction sector grew by 3.6% to 76.6 billion Drams, loans provided to agricultural sector grew by 4.2% to 54.8 billion Drams. Crediting of services sector grew by 4.8% to 40.7 billion Drams and loans to transport and communications sector rose by 5.2% to 29 billion Drams. -0-

Armenian banks lending to resident economy

(mln. AMD)