YEREVAN, January 31. /ARKA/. Consumer and mortgage loans issued by Armenia-based comemrcial banks have grown to more than AMD 1 trillion each in early 2024, the head of the Central Bank Martin Galstyan said Tuesday.

He added  that consumer loans in 2023 surged by  24.1% and the assumptions that the construction boom would  be followed by home furnishing appeared to be true.

"Consequently, according to our estimates, the growth of consumer loans will continue for the time being during the year," Galstyan said at a press conference.

According to the head of the regulator, the growth of this type of lending at the moment does not generate any significant systemic risks that require special attention.

According to the Central Bank, the loan portfolio of Armenian banks at the end of December 2023 stood at o AMD 5.15 trillion, up from  AMD 4.21 trillion at the end of December 2022.

The volume of loans extended to residents amounted to AMD 4.88 trillion and to non-residents to AMD 269.8 billion. ($1 - AMD 403.96) -0-.