YEREVAN, March 12. /ARKA/. The aggregate lending provided by Armenia’s commercial banks to residents contracted by 0.9% in January 2014, compared with December 2013, to AMD 1727.9 billion, the central Bank of Armenia reports in its official website.
Loans extended to residents in drams totaled more than AMD 657.1 billion in late January after shrinking 1.5% over the month, and lending in foreign currencies shrank 0.5% to AMD 1070 billion.
According to the report, consumer loans dominate the banks’ aggregate portfolio – their share here was 22.1% in January 2014 (1.2% growth, compared with Dec 2013). Consumer loans extended to resident companies totaled AMD 370.1 billion in January 2014.
The second biggest borrower is the industry. Its share in banks’ loan portfolio is about 21.5%. They totaled AMD 359.2 billion in January 2014 – 1.6% month-on-month decline.
Lending to trade sector shrank 3.7% over January 2014 to about AMD 339.1 billion. Its share in banks’ aggregate loan potrfolio was 20.3%.
Twenty one commercial banks functioned in Armenia in Late January 2014. ($1 – AMD 414.90). -0-
