YEREVAN, February 28. /ARKA/. Slowdown in the total volume of mortgage loans given by Armenian commercial banks at the end of January of 2012 reached 0.6 % to 109.7 billion drams from a month earlier, according to data on the Central Bank’s website.
Mortgage loans made up 9% of the Armenian banks’ total loan portfolio at the same period. According to the data, average interest rate on mortgage loans in Armenia was 12.65% as of January , dropping by 0.2 p.p. compared to the last month.
Total volume of loans that Armenian commercial banks allocated to the resident unit of economy at the end of January amounted over 1.2 trillion drams, increasing by 1.2% from December. As of December 31, 2011 there are 21 commercial banks with 437 branches in Armenia. ($1 – 388.93 drams). -0-
