YEREVAN, May 26. / ARKA /. Combined overdue loans of Armenian commercial banks dropped by 16.6% in 2011 March from February to 4.2 billion drams, the Central Bank of Armenia said in a monthly bulletin for March, posted on its official website.
At the end of March overdue loans made only 0.4% of the banks’ combined outstanding credit portfolios.
According to the bulletin, time credit investments increased by 4.7% in late March as compared to February, reaching 971.4 billion drams and making 95.6% of the combined outstanding portfolio. Prolonged credit investments during the reporting period reduced by one percent from February to more than 40 billion drams making 3.9% of the banks’ total credit investments.
The total volume of credit investments of Armenian commercial banks at the end of 2011 March amounted to about 1. 015.7 trillion drams, rising from t 973 billion drams at the end of February. The growth was 4.3%. Some 23.7% were short-term loans and the rest were long-term loans.($ 1- 376.11 AMD). -0-
