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By Aram Achemyan

According to the Statistical Committee of Armenia, as of May 2021, the loans provided by the country’s commercial banks have amounted to 4 trillion 13 billion drams, which has decreased by 3.3% compared to the previous year, and by 1.9%—compared to March 2021. If this decline continues in the coming months, it can be concluded that providing loans has become problematic for both banks and people in Armenia.

By the way, the amount of loans given to people from Armenia’s commercial banks has increased fivefold in the last 12 years.

As for loan interest rates in Armenia, they initially showed a downward trend between 2017 and 2021, but then stabilization, which is mainly due to competition in the country’s banking system.

During this period, the number of customers of Armenia’s commercial banks also showed an upward trend, in particular, compared to 2017, in 2021 the respective growth was 25.6%.

In the current economic conditions, the formation of a competitive economy, the increase of investment activity, the growth of peoples' welfare, as well as the stability of the situation in the financial and banking spheres are among the key issues for Armenia.

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