{"id":249364,"date":"2020-05-26T15:55:21","date_gmt":"2020-05-26T15:55:21","guid":{"rendered":"https:\/\/armbanks.am\/2020\/05\/26\/249364\/"},"modified":"2020-05-26T15:55:21","modified_gmt":"2020-05-26T15:55:21","slug":"armenian-banks-loan-portfolio-grew-by-0-5-in-first-quarter-of-2020-reaching-3-trillion-and-762-billion-drams","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2020\/05\/26\/249364\/","title":{"rendered":"Armenian banks’ loan portfolio grew by 0.5% in first quarter of 2020 reaching 3 trillion and 762 billion drams"},"content":{"rendered":"\n

YEREVAN, May 26. \/AR\u041a\u0410\/.<\/strong> Seventeen Armenian commercial banks’ loan portfolio grew by 0.5% or 19 billion drams in the first quarter of 2020 reaching 3 trillion and 762 billion drams, up from 3 trillion and 743 billion drams at the end of 2019, Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference on Tuesday.<\/p>\n\n\n\n

\u201cIn general, the\nloan portfolio has grown, but there are areas where lending decreased. For\nexample, mortgage lending in the first quarter of 2020 increased by 10% to 394\nbillion drams, which is 12% of the total portfolio,’ Sargsyan said.<\/p>\n\n\n\n

According to him, lending\nto the construction sector grew by 11%, to agriculture – by 6%, consumer loans\nincreased by 4% and loans provided to services also increased by 4%.<\/p>\n\n\n\n

At the same time,\nlending to industry decreased by 7%, to transport and communications – by 13%, to\ntrade – by 1%, financial resources provided to the financial sector also decreased\nby 16%.<\/p>\n\n\n\n

“In fact,\nbased on these indicators, we can say that the impact of the coronavirus crisis\non certain areas of the economy is already obvious,” Sargsyan said.<\/p>\n\n\n\n

As for the\nstructure of loans, he said that loans provided to economy account for 50.4% of\nthe total portfolio, 40% are loans provided to individuals, and the remaining\n9.6% are interbank loans and deposits.<\/p>\n\n\n\n

He said also that\nover the past 10-11 years the amounts of loans provided in the national\ncurrency and US dollars have almost equalized. Thus, in the first quarter of\n2019 some 51.8% of loans were in foreign currency and 48.2% – in drams.<\/p>\n\n\n\n

According to the\nUnion of Banks of Armenia, Armenian banks’ profit  in the first quarter of 2020 increased by 7.2\nbillion drams from the same period in 2019 \namounting  to 23.3 billion drams.\nTheir total capital in the first three months of this year increased by 2.1% to\n862 billion drams. The sector’s assets amounted to 5 trillion and 907 billion\ndrams, up from 5 trillion and 805 billion drams at the end of 2019. Their total\nliabilities amounted to 5 trillion and 45 billion drams, which is 85 billion\ndrams or 1.7% more than at the end of 2019. And liabilities to customers during\nthe reporting period decreased by 1.4% to 3 trillion and 427 billion drams. ($1\n– 483.00 dram). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

Seventeen Armenian commercial banks’ loan portfolio grew by 0.5% or 19 billion drams in the first quarter of 2020 reaching 3 trillion and 762 billion drams, up from 3 trillion and 743 billion drams at the end of 2019, Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters during an online press conference on Tuesday<\/p>\n","protected":false},"author":1,"featured_media":194583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12163,13143,1756],"class_list":["post-249364","post","type-post","status-publish","format-standard","has-post-thumbnail","category-banks-en-en","category-news","tag-armenia-2","tag-banks","tag-loan-portfolio","tag-1756"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t