Outstanding credit portfolio of banks to residents grew by 17% to 1.1 trillion drams

14.06.2011 18:47
Outstanding credit portfolio of banks to residents grew by 17% to 1.1 trillion drams

YEREVAN, June 14. / ARKA /. The outstanding credit portfolio of Armenian commercial banks to residents grew by 17% over the first five months of the year to 1.118 trillion drams, Central Bank governor, Artur Javadyan, said to a news conference today.

For comparison he said in largest CIS countries the growth was within 3-6 percent. He also said 469 billion drams worth loans were provided in Armenian national currency and 649 billion drams worth loans in foreign currency.

Arthur Javadyan spoke also against restructuring of agricultural loans. He said it is opposed not only by the Central Bank and international auditing firms, but also by shareholders. He said the communities that have suffered from hails, are in the focus of the banking system, and in particular of those banks, which provided most of the loans. Javadyan said 65 billion drams loans are provided currently to 90 thousand farmers throughout Armenia.($1 - 375.83 AMD). -0-


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