Sun, 27 July
34.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Loan investments by Armenian banks surged 5.3% to AMD 1 605.5 bln in September

YEREVAN, November 6. /ARKA/. Armenian commercial banks’ aggregate portfolio of loans extended to residents has grown 5.3% since the beginning of this year to AMD 1,605.5 billion in late September.

According to the central bank’s official website, loans extended to residents in drams totaled over AMD 584.7 billion in September, an increase of 8.5% against January; loans to residents in foreign currencies grew 3.4% to about AMD 1,020.8 billion.

According to the source, lending to industry dominated in the banks’ aggregate loan portfolio in September – its share was 21.6%. Banks’ outstanding loans to industrial enterprises totaled about AMD 347.3 billion in September showing 8.9% decline compared with January.

Trade lending is the second with a 21.3-percent share in overall loan portfolio in September.

Trade lending amounted to AMD 341.9 billion in September showing 7.4% growth, compared with January.

Consumer lending comes the next: it amounted to AMD 340.6 billion – 21.2% and 13.4% growth respectively.

Banks’ mortgage loan portfolio grew 9.5% to AMD 138.8 billion, lending to construction rose by 3% to AMD 103.2 billion and banks’ lending to agriculture grew 6.9% to AMD 98.5 billion.

Lending to the services sector grew 5.6% to AMD 89.6 billion, to transport and communication services 2.9% to AMD 40.3 billion and to other segments of the national economy by 26.9% to AMD 105 billion.

Twenty one commercial banks functioned in Armenia in September 2013. ($1 – AMD 405.77). –0–

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img