YEREVAN, December 29. /ARKA/. The volume of mortgage loans issued by Armenia-based commercial banks grew by 2% at the end of November against October to 107.6 billion drams, according to a statement, posted on the official website of the Central Bank of Armenia. The share of mortgage loans in the total loan portfolio of all commercial banks for the reporting period made 14.7%.
The average interest rate on mortgage loans in November was 12.7%, an increase over the previous month by 0.15 percentage point. The overall lending of commercial banks to local economy was said to have grown by 2.5% from October to 1.2 trillion drams. Armenia has 21 commercial banks. ($1 – 385.68 AMD). -0-
