Sat, 26 July
31.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Loan investments by Armenian banks drop to AMD 1, 893.7 billion in March, overdue loans rise

YEREVAN, May 8. /ARKA/. Total loan investments by Armenia-based commercial banks dropped by 5% to 1,893.7 billion drams in March as compared to the beginning of the year, while overdue loans increased by 14.2%, the National Statistical Service (NSS) reported.

According to the NSS, dram loans declined by 5.1% to 632.1 billion drams, and foreign currency loans fell by 5% to 1,261.6 billion drams.

Lending dropped over the reporting period against the background of dram devaluation in December 2014, mainly due to some toughened requirements by the central bank, and increased reserve norm in particular. Due to lack of liquidity some Armenian banks restricted the lending and started providing loans only to their clients, in January 2015 in particular; some other banks have simply applied stricter lending rules.

At the same time, in March 2015, overdue loans rose by 14.2% to 37.13 billion drams from the beginning of the year. Of it, about 25 billion drams were short-term loans.

According to the statistics, the extended loans rose by 6% to 130.8 billion drams in the reporting period.

As of the end of March this year, loans provided by Armenian banks amounted to a total of 2,061.7 billion drams. ($1 – 480.96 drams). -0-

spot_img

POPULAR

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.

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.

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.

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