Armenian banks’ lending increased last year by 15% to 2.4 trillion drams

03.02.2017 16:57
Armenian banks’ lending increased last year by 15% to 2.4 trillion drams

YEREVAN, February 3, /ARKA/. Armenian banks’ lending increased last year by 15% or 316.5 billion drams ($650 million) from 2015 to 2.4 trillion drams, according to Armenia’s Central Bank. Loans provided to residents only amounted to 2.116.8 trillion drams, having grown by 5.5%.

Of this amount 64.7% were provided in foreign currency, which last year increased by only 3.5% to the equivalent of 1.370.5 trillion drams, while loans in Armenian national currency grew by 9.6% to 746.3 billion drams.

Loans provided to corporate clients increased by 7.4% to 1.211.1 trillion drams, including 197.7 billion drams in Armenian national currency (a 10.2% growth), and the equivalent of 1.013.4 trillion drams in foreign currency (a 7% growth).

Incidentally, lending to Armenian households in 2016 fell by 0.04% only to 779.6 billion drams. The decline was due to the reduction in lending in foreign currency by 6.2% to the equivalent of 293.8 billion drams, while lending in drams increased by 4.1% to 485.7 billion drams.

Some 319.2 billion drams worth loans were provided to non-residents, an increase of 2.7 times. To date, there are 17 commercial banks operating in Armenia. ($ 1 - 485.91 drams). -0-


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