YEREVAN, December 23. /ARKA/. Commercial bank deposits increased 1.3 percent (mom) in October, and loans grew at 2.2 percent (mom), driven by AMD-denominated funds. This is stated in the World Bank’s review “Armenia Monthly Economic Update – December 2024”.
“Compared with 2023, exchange rate adjusted deposits grew 11 percent (yoy) in October, and credits rose 23 percent (yoy). Mortgages, consumer loans, and credit to the construction sector account for two thirds of the increase.
WB analysts note that financial indicators remained robust, with the Capital Adequacy Ratio edging up 0.1pp in October, to 20.5. The NPL ratio stayed low, at 1.2 percent, and return on assets remained at 4.5 percent.
According to the Central Bank, the volume of loans issued by commercial banks in Armenia as of the end of October 2024 amounted to nearly 6 trillion drams, compared to 5.87 trillion drams at the end of September, while the volume of deposits reached 6.04 trillion drams, up from 5.96 trillion drams in September. ($1 = 395.05 drams)
