Mon, 16 June
27.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Central Bank: Ratio Of Banking Loans To GDP Has Risen By 11% In Armenia Since 2008

YEREVAN, November 15. /ARKA/. The ratio of banking loans to GDP has risen by 11% in Armenia since 2008, Arthur Javadyan, chairman of the Central Bank of Armenia, said Tuesday in the National Assembly.

“In 2008 the ratio of loans to GDP ranged between 16% and 17%, while now it reaches 28% showing a significant increase in lending,” he said.

Javadyan said that the aggregate loan portfolio of Armenian banks totals over AMD 1150 billion now – this is 30% more than in 2010.

“Interest rates have shed 1.5% or 2% for three years,” he said. “We are implementing some joint programs with the government to make some types of loans, particularly mortgage and agricultural loans, available.”
Bad loans made up 30.72% of Armenian banks’ aggregate loan portfolio in late September.

According to banks’ financial reports, their loan portfolio, including loans extended to clients and other borrowings, amounted to about AMD 1159.1 billion in late September 2011 against AMD 1088.8 billion in early July 2011, and loans extended to individuals totaled AMD 356.1 billion against AMD 342.4 billion.

Twenty one banks with their 425 branches operate in Armenia now. ($1 – AMD 384.9).-0—

spot_img

POPULAR

Central Bank of Armenia will develop a by-law for the implementation of the law “On crypto assets”

The Central Bank of Armenia will begin work on developing a by-law after the adoption of the law "On crypto assets", said the head of the regulator Martin Galstyan, answering a question from the ARKA news agency.

Armenia’s banking system dominates the financial system’s asset structure with a share of 83% and an indicator of 11 trillion drams – head of...

The assets of the banking system continue to make up the overwhelming majority of the financial system's assets - about 83%, or about 11 trillion drams, said the head of the Central Bank of the republic Martin Galstyan, presenting a report on financial stability for the past year.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Modern French language class opened in Mastara village school with the support of the Stepan Gishyan Foundation

Students of the Mastara village school in Aragatsotn region now have the opportunity to study French in a fully equipped classroom equipped with all the multimedia capabilities, the press service of Acba Bank reports.

Digital dram to be one of the items on the analytical agenda in Armenia – Central Bank Chairman

The digital dram will be one of the items on the analytical agenda in Armenia, said Martin Galstyan, Chairman of the Central Bank of the Republic.

LATEST NEWS

spot_imgspot_imgspot_img