Mortgage grew significantly in 2019 – cenbank

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2019 stood out with significant big growth in household lending, especially in mortgage lending, Central Bank Financial Stability Department Director Andranik Grigoryan said in his report on 2019’s financial stability.

He said 2019 was a successful year both in terms of economic development and the development of the financial system.

“The trends mentioned in the 2018 report mostly continued in 2019”, he said.

“During the last couple of years, the banks showed continuous stable growth trends. I am speaking about both assets and obligations, capital, deposits. We’ve had a rather good dynamics in the last few years, including in 2019,” Grigoryan said.

He said they are monitoring the household income, loan burden, debt burden indicator developments and are ready to take necessary actions in order for the developments not to create risks neither for households nor the financial system.

Editing and Translating by Stepan Kocharyan

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