Consumer lending by Armenian banks grew by one percent to 427.4 billion drams

29.11.2016 16:10
Consumer lending by Armenian banks grew by one percent to 427.4 billion drams

YEREVAN, November 29. /ARKA/. The overall consumer lending by Armenia-based commercial banks at the end of October 2016 stood 427.4 billion drams, a 1% rise when compared to the beginning of the year, according to the data, released by the Central Bank.

The regulator said the growth was prompted by a 2.1% increase in consumer loans, provided by the banks in the national currency, while consumer loans provided in foreign currency fell by 2.4%.

Overall, consumer loans in drams accounted approximately for 76.9% or 328.9 billion drams of the total consumer lending, while consumer lending in foreign currency was worth the equivalent of 98.5 billion drams.

Some 170.4 billion consumer lending in drams were credit card loans, 51.4 billion drams worth loans were provided for purchase of household appliances, 90.5 billion drams worth loans were gold-secured, 8.9 billion drams were car loans and 106 billion drams were other consumer loans.

Mortgage lending in the reporting period was said to have grown by 1.5% to 181.6 billion drams. ($ 1 -479.72 drams). -0-


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