Total loan volume in Armenia has reached a historical high

The total volume of loans issued in Armenia has exceeded its historical maximum. As of February 2026, it amounts to approximately AMD 8 trillion.

Over the past four years, total lending has doubled, reflecting increased activity in the banking sector and strong demand for credit from households and businesses.

The largest share of lending is concentrated in:

1. consumer loans,
2. followed by mortgage lending.

What this means, briefly:

1. For lenders (banks), this trend is generally positive, as it supports revenue growth and market expansion.
2. For borrowers, the situation is mixed: access to credit has improved, but rising debt levels increase vulnerability to economic and interest rate risks.