YEREVAN, September 14. /ARKA /. Speaking at a news conference, Ashot Osipyan, the chairman of the Union of Armenian Banks, said Armenia-based banks’ lending surged by 16 percent in the first half (by 213.5 billion drams) to almost 1.6 trillion drams on the back of growing demand, economic expansion, liquidity of the banks and new projects.

Osipyan said the largest portion of lending (23%) was channeled into trade, 20 percent into industry and 19 percent were consumer loans.

According to him, individual loans increased by 67.9 billion drams (17.5%), consumer loans by 30.3 billion drams (12.1%) and mortgage loans by 9.4 billion drams (8.4%).

"Compared with the beginning of the year the lending to economy grew by 135 billion drams or 15.3% to 1.015 trillion drams,» he said.

He also said the amount of deposits in the first half reached 1.125.8 trillion drams, having increased by 72.1 billion drams or 6.8%.

"During the reporting period, the amount of individual deposits increased by 91.9 billion drams or 16.4%, while corporate deposits decreased by 4, or 19.8 billion drams due to seasonal decline in demand deposits," he said.

According to Osipyan, the total capital of all 21 Armenia-based banks in the first half of this year increased by 3.3% or 12.2 billion drams to 387.3 billion drams; the assets amounted to 2.209.1 trillion drams , an increase of 135 billion drams or 6.5%, while liabilities increased by 7.2% or 122.8 billion drams to 1.821.8 trillion drams.

Osipyan also said that by late June the number of plastic cards stood at 1,133,000, a 16 percent rise from the beginning of the year. ($ 1 - 409.62 drams). -0 -