Haykakan Zhamanak: Bank loans to business and citizens fall in Armenia

The amount of loans given by Armenian banks to citizens and businesses fell by over 10% in August 2015 compared to the same month of 2014. The decline in crediting has become a tendency, ‘Haykakan Zhamanak’ daily writes.

“On the one hand loans are now less profitable for businesses due to a rise in interest rates, on the other hand banks became more cautious. In any case, the fall in bank loans negatively affects the economy, especially in the long run,” the paper says.