YEREVAN. – As of October 2011, the economic loans by Armenian commercial banks constituted 1.1 trillion drams (US$ 2.9 billion, with $1/AMD 380 provisional exchange rate), Armenian Central Bank’s October bulletin revealed. 

Also, close to 62 percent of the loans was provided in foreign currency.

The majority (65%) of the bank loans was provided to three economic spheres: industry, commerce, and consumer lending.   

More than half of industrial loans is directed to energy and food.

The banks also loaned a considerable amount to agriculture and mortgages.