YEREVAN, July 1. /ARKA/. At the end of 2016 May the overdue loans of Armenia's banks were by 1.7% higher from the previous month standing at 47.1 billion drams, the National Statistical Service (NSS) said today.

The amount of short-term overdue loans fell by 7% to 23.6 billion drams, while the amount of long-term overdue loans increased by 10.9% to 23.5 billion drams. At the same time, the amount of extended loans grew by 1.9% to 113.5 billion drams, according to NSS.

The banks’ credit investments in May increased by 0.11% to 1.988.6 trillion drams, with loans in foreign currency decreasing by 0.36% to the equivalent of 1.315.7 trillion drams, and those in drams rising by  1% to 672. 9 billion drams.

At the end of May, the banks’ total lending stood at 2.149.3 trillion drams, a 0.24% growth from the previous month. -0-