According to the February review by the Central Bank of Armenia (CBA), by February, 2011, Armenian commercial banks had issued loans totaling 919.3 billion AMD (U.S. $2.5 billion), the nominal exchange rate being U.S. $1/365 AMD.

Foreign exchange loans constituted 58% of the total amount despite the recent upward tendency in the share of AMD loans.

The poorest situation is in the agricultural sector, the share of foreign exchange loans being 87% (54.7 billion AMD loans issued to the agricultural sector). Banks may force farmers into borrowing foreign-exchange loans, which, however, poses additional risks to the sector. On the other hand, farmers` "traditional love" for foreign currency is may be a factor as well.

As regards AMD loans, they are mostly allocated to the consumer market. Consumer loans totaled 170 billion AMD (about U.S. $465 million), with AMD loans constituting about 88%.  

The industrial sector received most loans from the banking system - 216 billion AMD (about U.S. $590 million), with foreign exchange loans constituting 75%.

Overall, 187.5 billion AMD (U.S. $514 million) loans were issued to the trade sector, with foreign exchange loans constituting 67%.

By February, 2011, mortgage loans had totaled 89 billion AMD (about U.S. $244 million), with foreign-exchange loans constituting 40%.