YEREVAN, January 12. /ARKA/. Overdue loans in Armenian commercial banks in November 2015 surged by 9.5% from the previous month to 34.8 billion drams, according to numbers, released today by the National Statistical Service (NSS).

It said the short-term overdue loans increased by 6.1% to 24.64 billion drams, long-term loans rose by 18.8% to 10.2 billion drams, while extended loans rose by 9.3% to 126.1 billion drams.

The overall lending of the banks in November rose by 0.9% from October to 1.907.3 trillion drams, with loans in foreign currency increasing by 3% to the equivalent of 1.261.5 trillion drams, while loans in the national currency were down 3% to 645.7 billion.

The rise in overdue loans is said to have been prompted by a decline in effective demand, resulting from a huge drop in remittances from abroad and trade. -0-