Friday, February 12 2010 16:19

Lending by banks up 87% for Jan 2010 in Armenia


ArmInfo.Lending by Armenian commercial banks Jan 2010 versus the same period of 2009 was up 87% to 32.1 billion drams.

ACRA Credit Bureau told ArmInfo the commercial banks provided 44572 loans for Jan 2010 which was 17.7% more than a year ago.

As of February 1 2010 ACRA Credit Bureau had databank on 2.6 million redeemed and 635,000 current loans as well as nearly 942,2 thousand credit histories (including 18,000 histories of legal entities and 924,2 thousand individuals).

As of February 1 2010 the banking system of Armenia encompassed 22 commercial banks.

"ACRA Credit Reporting" CJSC, the first private credit bureau in Armenia, was founded in January 2004 by Credentials Inc. The shareholders of the company are the Central Bank of Armenia (10%), 17 commercial banks, First Mortgage Company, Dun & Bradstreet International LTD and other companies. All the 22 commercial banks in Armenia and most of the loan companies use ACRA's services.
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