YEREVAN, May 11. /ARKA/. The total amount of Armenian banks’ lending, including deposits, factoring and leasing, surged by 5.6% in the first quarter of this year to more than 1.366.1 trillion drams, according to a Central Bank review of the banks’ performance in the first three months of the year.
The lending to mining industry saw a dramatic rise of almost 88 percent reaching 51 billion drams. Consumer loans were said to have risen by 9.9% to 238.9 billion drams and the amount of lending chandelled into agriculture increased by 9% to 87.9 billion drams.
The lending to other sectors increased by 8.5% to 48.9 billion drams. The amount of trade loans upped by 8.1% to 298 billion drams; lending to culture sector rose by 8% to 4.9 billion drams and lending to transport and communications sector also climbed by 8% to 8.1 billion drams.
The lending to the health sector also increased by 5.3% to 5.4 billion drams, and the volume of credits provided to manufacturing industry rose by 2% to 154.5 billion drams. The mortgage lending went up by 1.9% to 112.4 billion drams. Lending to trade accounted for 21.8% of the total portfolio, processing industry accounted for 20.5%, consumer and mortgage loans stood at 17.5% and 8.2% respectively. There are 21 commercial banks in Armenia which operate 444 branches. ($1 – 393.07 drams). -0 –
