YEREVAN, September 20. / ARKA /. Armenia-based banks’ lending to local industry surged by 10 percent in late July from the previous month to 341.5 billion drams making 24.2 percent of the combined outstanding loan portfolio of the system, according to a statement posted on the official website of the Central Bank of Armenia.
The lending to commerce is said to have dropped by 3.5 percent from the previous month to 316 billion drams (22.4 percent of the combined outstanding loan portfolio). Consumer loans were third by size making 264 billion drams (18.7 percent of the combined portfolio). They were followed by mortgage loans -120.9 billion drams (8.6%), construction -100.5 billion drams (7 percent), and agriculture -91.2 billion drams (6.5 percent). The list was bottomed by transport and communications sector – 42.2 billion drams (3 percent). ($1 – 407.47 drams). -0-
