{"id":249348,"date":"2020-05-14T17:04:13","date_gmt":"2020-05-14T17:04:13","guid":{"rendered":"https:\/\/armbanks.am\/2020\/05\/14\/249348\/"},"modified":"2020-05-14T17:04:13","modified_gmt":"2020-05-14T17:04:13","slug":"armenian-commercial-banks-lending-to-economy-in-first-quarter-grew-to-3-5-trillion-drams","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2020\/05\/14\/249348\/","title":{"rendered":"Armenian commercial banks’ lending to economy in first quarter grew to 3.5 trillion drams"},"content":{"rendered":"\n

YEREVAN, May 14. \/ARKA\/. <\/strong>Armenia’s banking sector was quick to respond to the situation caused by the spread of coronavirus, Mher Abrahamyan, Chairman of the Union of Banks of Armenia, said today.<\/p>\n\n\n\n

He said the Central\nBank and creditor organizations teamed up to create  mechanisms  of  an\nindividual approach to borrowers, and also  to avoid deterioration of credit histories due\nto their failure to make payments stipulated by loan agreements.<\/p>\n\n\n\n

According to\nAbrahamyan, the Central Bank, in particular, introduced some regulatory changes\nand applied a set of  tools that allowed\ncommercial banks to announce so-called credit holidays for customers.<\/p>\n\n\n\n

“As of May 5,\nArmenian banks provided credit holidays or otherwise revised around 700\nthousand loans of about 400 thousand individuals worth more than 500 billion\ndrams, as well as about 13 thousand loans of more than 10 thousand legal\nentities worth  more than 520 billion.\ndrams,” he said.<\/p>\n\n\n\n

Abrahamyan also\nnoted that Armenian banks are actively involved in the implementation of government-designed\nanti-crisis programs, assisting in ensuring the availability of funds provided\nby the government.<\/p>\n\n\n\n

“Let’s not\nforget that the banking system, as the driving force of the economy, did not\nstop working for a second; great resources were attracted to ensure the safety\nof both employees and customers,” he stressed.<\/p>\n\n\n\n

According to\nAbrahamyan, in addition to government programs, banks also continue lending to\nthe economy with their own funds.<\/p>\n\n\n\n

\u201cI\u2019ll cite several\nindicators that also testify to this: in the first quarter of 2020, the volume\nof loans provided by Armenian banks to the economy grew by about 2.3%,\nexceeding 3.5 trillion drams. The total capital of commercial banks over the\nsame period increased by about 1.5%, amounting to more than 836 billion\ndrams,” he said.<\/p>\n\n\n\n

The Armenian\ngovernment, in general, has approved 18 programs to counteract the economic\nconsequences of coronavirus. Eight are designed to show support to agriculture,\ntourism, SMEs, microbusiness, IT and other industries and the rest – to\ncitizens of various categories.
\nA 30-day state of emergency to curb the spread of coronavirus was declared in\nArmenia on March 16 and restrictions were imposed on free movement of citizens.\nThe government banned also some types of economic activity. On April 13, the\ngovernment extended the state of emergency for another month and on May 4 it lifted\nthe ban on almost all types of economic activity and the free movement of\ncitizens, except for public transport. On May 14, the government has again\nextended the state of emergency for another 30 days.<\/p>\n\n\n\n

Deputy Prime\nMinister Tigran Avinyan said today despite the extension, public transport,\npreschools, trading centers and gyms will reopen starting from May 18, but\nwearing of masks will also be mandatory in public spaces.<\/p>\n\n\n\n

According to the\nlatest official data, Armenia’s confirmed cases of coronavirus have risen to\n3,860; 49 people have died from it and 1,572 patients have recovered. ($1 –\n487.66 drams). \u20130-<\/p>\n","protected":false},"excerpt":{"rendered":"

Armenia’s banking sector was quick to respond to the situation caused by the spread of coronavirus, Mher Abrahamyan, Chairman of the Union of Banks of Armenia, said today<\/p>\n","protected":false},"author":1,"featured_media":157087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12168,9216],"tags":[15837,12790,12172,12750,12816,315],"class_list":{"0":"post-249348","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-interviews","8":"category-news","9":"tag-armenia-2","10":"tag-commercial-banks","11":"tag-economy-en","12":"tag-purchase","13":"tag-sector","14":"tag-315"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249348","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=249348"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157087"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}