YEREVAN, May 12. / ARKA /. The amount of lending provided to residents by Armenia-based 21 commercial banks stood at 1.716.3 trillion drams at the end of March 2014, an increase of 1.9 percent from the beginning of the year, the Central Bank said in a statement posted on its official website.
Compared to the previous month the lending increased by 1.3%, it says.
According to the Central Bank data, the lending in Armenia’s national currency, the dram, grew by 0.3 percent from the beginning of the year to more than 632 billion drams. The lending to residents in foreign currencies increased by 2.3 % to about 1.084.3 trillion drams.
Consumer loans accounted for 22.7% of the overall lending totaling 390.7 billion drams (up 6.8 % from the beginning of the year). Industry accounted for 20.9% of the total lending - 359 billion drams.
The figure was 1.6 percent up from the beginning of the year. Industry was followed by trade sector that accounted for 20% or 344.6 billion drams (down 2.2%) .
Mortgage lending totaled 145.13 billion drams (up 1.35 %), construction lending stood at about 113.3 billion drams (up 3.5%), agricultural lending was worth 108.6 billion drams (up 5 2%), lending to services totaled about 100 billion drams (up 8.9%), loans provided to transport and communications sector were down 8 percent to 41.7 billion drams.
Lending to other sectors of the economy in March totaled 113.13 billion drams (up 4.5%). ($ 1 - 413.19 drams). -0-