{"id":136381,"date":"2021-11-05T14:51:23","date_gmt":"2021-11-05T14:51:23","guid":{"rendered":"https:\/\/armbanks.am\/2021\/11\/05\/250078\/"},"modified":"2024-12-15T13:45:59","modified_gmt":"2024-12-15T13:45:59","slug":"armenian-banks-report-6-7-drop-in-9-months-lending","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/11\/05\/136381\/","title":{"rendered":"Armenian banks report 6.7% drop in 9 months\u2019 lending"},"content":{"rendered":"\n<p><strong>YEREVAN, November 5. \/ARKA\/. <\/strong>The overall lending of 17 Armenia-based commercial banks fell by 6.7% or 279 billion drams in the first 9 months of 2021 to 3.9 trillion drams, Deputy Executive Director of the Union of Banks of Armenia\u00a0\u00a0(UBA) Arman Sargsyan said at a press conference on Friday.<\/p>\n\n\n\n<p>He said in the third quarter alone the lending dropped&nbsp;&nbsp;by 0.7% or 26 billion drams.&nbsp;&nbsp;According to him,&nbsp;&nbsp;there are several&nbsp;&nbsp;reasons behind the drop, such as sectoral economy reallocations, forced by the coronavirus pandemic, the war (in Nagorno-Karabakh conflict zone) and&nbsp;&nbsp;the payment&nbsp;&nbsp;holidays provided to borrowers by the banks due to the pandemic.<\/p>\n\n\n\n<p>\u201cAs a result of all this, repayments began to slow down, and those payments that were supposed to be made in 2020 were&nbsp;&nbsp;extended to 2021,\u2019 he explained.<\/p>\n\n\n\n<p>He said one of the economy sectors that saw a borrowing&nbsp;&nbsp;growth is construction with lending to this sector increasing&nbsp;&nbsp;by&nbsp;&nbsp;20.8% in nine months. Also, mortgage lending surged by about 22% and 5.2% growth was also registered in \u200b\u200bagricultural lending.<\/p>\n\n\n\n<p>According to the Union of Banks of Armenia, construction sectors accounts for 9.3% of the total lending portfolio, mortgages \u2013 for 16.8% and agricultural lending \u2013 for 5.3%.<\/p>\n\n\n\n<p>C\u200bonsumer loans, which account for almost 24% of the total lending declined by 10.3%, lending to the industrial sector decreased by 18.19% (it accounts for 15.3% of the total), lending to trade dropped by&nbsp;&nbsp;9.9% (its share in the overall lending is 13.7%), lending to services fell by&nbsp;&nbsp;5.7% ( 8.3% ), lending to the financial sector fell by 29.2% ( 6.1%) and lending to&nbsp;&nbsp;transport and communications declined by 9.3% (3.4%).<\/p>\n\n\n\n<p>Sargsyan said that 43% of the loan portfolio are loans provided to individuals (AMD 1.679 trillion), and 47% are loans provided to economic entities (AMD 1.838 trillion) and 10% are interbank loans worth 446 billion drams. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The overall lending of 17 Armenia-based commercial banks fell by 6.7% or 279 billion drams in the first 9 months of 2021 to 3.9 trillion drams, Deputy Executive Director of the Union of Banks of Armenia\u00a0\u00a0(UBA) Arman Sargsyan said at a press conference on Friday<\/p>\n","protected":false},"author":1,"featured_media":174386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12163,12727,319],"class_list":{"0":"post-136381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-banks","10":"tag-lending","11":"tag-319"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/136381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=136381"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/136381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/174386"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=136381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=136381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=136381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}