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Armenia's Commercial Banks Pay More Attention To Industry

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  • Armenia's Commercial Banks Pay More Attention To Industry

    ARMENIA'S COMMERCIAL BANKS PAY MORE ATTENTION TO INDUSTRY

    Tert.am
    02.05.11

    Armenia's commercial banks have started to allocate more loans to the
    industry sector, a report by the Central Bank of Armenia has revealed.

    According to the report, which was released on Monday, in the first
    quarter in 2011 the amount of industrial loans in the overall credit
    portfolio of commercial banks has been 22% which means it has grown
    by 3% compared to the 2010 indicator (19%).

    The amount of loans allocated to the industry sector during the recent
    year has increased by 44% while the banking portfolio of the banking
    system has increased by about 30%, the report added.

    Further it said that even though the some activity has been observed
    in the economy, the amount of consumer loans has decreased in the
    credit portfolio. If the consumer loans made 18% of the overall credit
    portfolio in the first quarter in 2010, the figure in first quarter
    in 2011 was 17%.

    The amount of mortgage loans has also dropped by 2% in the loans
    portfolio of the commercial banks in first quarter of 2010 equaling
    to 9%.

    The report also said that the loans portfolio of the banking system
    has increased by about 30% since last year, while the mortgage credits
    have increased by 6.4% during the same period.




    From: A. Papazian
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