YEREVAN, March 11. /ARKA/. Loans extended by Armenian commercial banks to residents totaled AMD 1,976 billion drams as of the end of January, a decline of 1.7% over the month, the Central Bank of Armenia reports at its official website.
According to the regulator’s report, consumer loans dominated the banks’ aggregate loan portfolio in late January and accounted for 22.56%. Consumer loans amounted to a total of about AMD 445.7 billion after having hiked by 1.3% over the month.
Loans to industries amounted to AMD 419.1 billion in the reporting period (2.32% decline), those to trade sector was AMD 369.5 billion (reduction of 4.34%). Mortgage loans amounted to a total of about AMD 171 billion (0.8% reduction). Lending to services sector was AMD 133.9 billion (0.16% increase). Agriculture received AMD 126.9 billion in loans (0.48% decline) in the reporting month. Loans to construction were AMD 123 billion (0.93% decline) and lending to transport and communications were AMD 46.9 billion (6% growth).
Lending to other areas amounted to a total of AMD 139.7 billion in the period (0.9% decline).
Loans provided to residents in drams exceeded AMD 682.4 billion at the end of January, a 0.79% decrease. At the same time, lending in foreign currency dropped by 2.17% to about AMD 1,293.6 billion in the period.
Lending dropped in the circumstances of dram devaluation in the period, mainly due to certain norms raised by the central banks and the increased reserve requirement in particular. In January 2015, some Armenian banks had to limit their lending and extend loans to their clients only due to lack of dram liquidity.
There are currently 21 commercial banks operating in Armenia. ($1- 480.38 drams). –0–
