1% reduction of crediting by commercial banks and UCC in Armenia in 2009

As ACRA National Credit Bureau told ArmInfo, 99% or 571.4 bln out of the total volume of credits issued fell on the credits issued by commercial banks in 2009. This indicator reduced by 0,2% per annum.

The volume of crediting by Armenia's credit companies in Jan-Dec 2009, as compared to the similar period of 2008, reduced by 11,3% to 36.4 bln drams.

In quantitative terms, commercial banks and credit companies issued 616269 credits in Jan-Dec 2009, having reduced by 12,5% per annum, including, 562023 credits were issued by commercial banks over the reporting period (14,6% annual fall), and 54246 credits - by credit companies (17,3% annual growth).

According to the source data, there was an information available in ACRA Credit Bureau as of December 1, 2010, about 2.6 mln repaid and 637,000 current credits, as well as 962.3 thsd credit histories (18.2 thsd of which are the histories of legal persons and 944.1 thsd - of individual persons).

To note, there were 22 commercial banks functioning in Armenia as of January 1, 2010, as well as 27 credit companies, 22 of which are universal, 4 - leasing and 1 - a credit union.