YEREVAN, August 9. /ARKA/. As of the end of June 2024, Armenian commercial banks issued loans totaling 5,614,439 million AMD, a slight increase from 5,535,504 million AMD at the end of May, a report by the National Statistical Committee revealed on Friday.
Foreign currency loans amounted to 1.9 trillion AMD, accounting for 33.83% of total credit investments, up from 1.86 trillion AMD in May. Loans in the national currency, the Armenian dram, reached 3.71 trillion AMD, making up 66.17% of the total, compared to 3.67 trillion AMD in May.
Loans extended to non-residents by Armenian banks totaled 226.7 billion AMD at the end of June, down from 239 billion AMD in May. Meanwhile, loans to residents increased to 5.2 trillion AMD, up from 5.1 trillion AMD in May. Resident loans in dram stood at 3.6 trillion AMD, rising from 3.5 trillion AMD in May, while foreign currency loans to residents grew to 1.7 trillion AMD from 1.6 trillion AMD over the same period.
Credit organizations also saw a slight increase in lending activities. The total volume of loans issued by these organizations reached 334.9 billion AMD by the end of June, up from 331.6 billion AMD in May. Loans to non-residents by credit organizations increased to 28.2 billion AMD from 24.3 billion AMD in May, while loans to residents slightly decreased to 306.6 billion AMD from 307.3 billion AMD in May. Of these, dram loans to residents grew to 240.5 billion AMD from 239.1 billion AMD in May, whereas foreign currency loans to residents slightly declined to 66.2 billion AMD from 68.2 billion AMD.
In June, the average interest rate on loans offered by commercial banks was 12.92%, a slight increase from 12.86% in May. The Central Bank’s repo rate remained steady at 8.25% over the month.
