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%).

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Armenian banks are capable of managing their currency risks appropriately, Chairman of Armenia’s Union of Banks Ashot Osipyan told journalists on Friday.

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One of the worldwide leading payment systems Diners Club International will enter Armenian market in the nearest future, the head of the Union of Banks of Armenia Ashot Osipyan said

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Diners Club International, one of the world’s leading payment systems, will enter the Armenian market within the next two months

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HSBC Bank Armenia is now considering only development programs in Armenia, Ashot Osipyan, chairman of the Union of Armenian Banks, said.

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Armenian banks lowered their lending interests by 2-3 percent in 2010, Ashot Osipyan, chairman of the Union of Banks of Armenia, said on Thursday.

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