YEREVAN, February 13. /ARKA/. The share of nonperforming and written-off assets of Armenia’s banks has shrunk to 6.2% by late 2016 hitting the record low, the Central Bank of Armenia reports.

Nonperforming assets were growing over the entire 2016 fluctuating between 8 and 9 percent.

The share of residents’ nonperforming and written-off assets was 6.13% in late 2016.

Consumer loans dominated nonperforming assets with 1.27 percent – their share has grown 0.74 percentage points since the beginning of the year.

Nonperforming assets in the processing industry made up 1.26% (0.16% growth) of the total nonperforming assets, assets in trade 0.86% (0.1% growth), in agriculture 0.52% (0.18% decline) and in construction 0.25% (0.2% decline).

The financial sector has no nonperforming assets.

The central bank says overdue loans amounted to AMD 31.9 billion in late 2016 after shrinking 15.6% since the beginning of the year.

Commercial banks’ assets totaled AMD 3 994.5 billion by the end of 2016. ($1 – AMD 486.66). —0---