YEREVAN. - 21 commercial banks with 418 branches functioned in Armenia as per July 1, 2011, says the report of the Central Bank of Armenian (CBA). Total assets of these banks are estimated as AMD 1,7 trillion (around $4,3 billion).

The amount of loans provided to legal bodies make highest density of banks’ assets with 35.9 percent. Density of loans allocated to physical persons increased by up to 20.7 percent. The banking system provided AMD 1,48 trillion (around $4 billion) to the economic sphere of the country as per July 1, 2011.