YEREVAN, May 17. /ARKA/. Armenian commercial banks’ lending to resident companies grew 6% in March 2011, compared with the pervious month, to AMD 576.9 billion, the Central Bank of Armenia says in its review of monetary indicators for March 2011.

The outstanding portfolio of credits extended to industrial companies in Armenia’s national currency, the dram, dropped by 1.2% in March as opposed to February to 140.5 billion while loans in foreign currencies increased by 8.5% to 436.4 billion drams (if denominated in Armenia’s currency).

The outstanding portfolio of loans extended in to private companies in drams contracted by 0.4% to AMD 137.8 billion, while those extended in foreign currencies grew 8.4% to AMD 407.1 billion.

The outstanding portfolio of loans extended to state-owned companies in drams shrank by 30.2% to AMD 2.8 billion, while those extended in foreign currencies grew by 10.8% to AMD 29.2 billion. ($1 = AMD 373.74). -0---