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Armenian bank assets down Published on 16 August, 2010
 By July 1, 2010, the assets of the Armenian banking system had totaled 1,330bn AMD (about U.S. $3.5bn) – a 3.9% annual decrease, the main reason being AMD revaluation. U.S. dollars and Euro constitute most of the Armenian banking system’s assets.
In the 2nd quarter of this year, Armenian banks issued more credits. A 1-2 per cent increase in creasing was registered, which is not essential for the economy. Specifically, industrial credits showed a 0.8% decrease, and mortgage lending a 1.9% decrease.
Most credits are issued to the trade sector. Credits totaling 164bn AMD (about U.S. $425m) were issued to the trade sector – 20.5% of the bank credits (800bn AMD or U.S. $2bn).
August 02, 2010 | 12:52
Source: news.am
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