Credit organizations lend AMD 65.2 billion to residents in 4th q 2009

28.01.2010 18:35
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YEREVAN, January 28. /ARKA/. Credit organizations lent AMD 65.2 billion to residents in the 4th Q 2009, the Central Bank of Armenia says in its quarterly review of credit organizations’ activities.

The lending has grown 3.3% over that quarter.

Credit organizations’ loans extended to industry sector grew 29% to AMD 3.3 billion.

Their loans extended to other sectors grew 8.9% to AMD 6.6 billion, to agriculture sector 6.1% to AMD 10.2 billion and trade 0.4% to AMD 9.1 billion.

Instead, credit organizations reduced the loans extended to construction sector by 35.1% to AMD 5.2 billion, to financial sector by 5.4% to 16.4 billion and to transport and communication sector by 4.7% to AMD 2.7 billion.

Consumer lending shrank 16.2% over the quarter to AMD 4.2 billion, and mortgage lending rose 7.3% to AMD 7.5 billon.

Loans extended to financial sector made up 15.1% of the credit organizations’ aggregate credit portfolio, those extended to agriculture sector 15.6% and trade 13.9% by late December.

Mortgage lending constituted 15.6%, trade crediting 13.9% and loans extended to construction 7.9% of credit organizations’ credit portfolio.

Consumer lending made up 6.5% of their aggregate credit portfolio by late December.

The share of loans for transport and communication sector made up 4.2% of credit organizations’ credit portfolio, and for industry sector 5.1%.

Armenia has 27 credit organizations and 55 branches. ($1 = AMD 377.81). -0--


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