Monday, March 1 2010 12:21
1,3% reduction of credit investments of Armenian commercial banks in January 2010
ArmInfo. Volume of credit investments of Armenia's commercial banks reduced by 1,3% in January 2010, and grew by 15,6% per annum (in January 2010, as compared to the similar period of 2009), having made up 736.8 bln drams or $1.9 bln by February 1, 2010. Exclusively of and prolonged and overdue credits, total volume of credit investments as of this date made up 706.2 bln drams or $1.874 bln, having reduced by 2,6%, and by 12,3% - per annum.
According to the preliminary data of Armenian CB, provided to ArmInfo by the National Statistical Service of Armenia, 49,3% or 348.1 bln drams in the total credit portfolio of the commercial banks fell on dram credits (exclusively of the prolonged and overdue credits) (1,4% fall in January, and 11,2% fall per annum), while 50,7% or 358.1 bln drams fell on currency credits (3,7% fall in January, and 51,5% growth per annum). In the total volume of dram credits, 76,7% or 267.1 bln drams fell on long-term credits (1,5% fall in January, and almost 6% fall per annum), and 23,3% or 81.1 bln drams - on short-term credits (1,1% fall in January, and 25,2% fall per annum).
In the total volume of currency credits, 79,1% or 283.1 bln drams fell on long-term credits (1,3% fall in January, and 51,4% growth per annum), while 20,9% or 75 bln drams fell on short-term credits (11,7% fall in January, and 51,5% growth per annum).
In the structure of credits of the commercial banks, specific weight of the prolonged credits as of February 1, 2010, made up 3,4% or 25.2 bln drams (49,5% growth in January, and over sevenfold growth per annum), while specific weight of the overdue credits made up 0,7% or 5.3 bln drams (3,8% growth in January, and 1,5% fall per annum). The main volume in the structure of prolonged credits fell on short-term credits - 97,5% or 24.6 bln drams (53,8% growth in January, and sevenfold growth per annum). Almost the whole volume in the overdue credit portfolio also fell on the short-term credits.
According to the source, the interest rates on dram credits of Armenia's commercial banks in January 2009 raised from 18,79% to 19,07%, and reduced by 0,42 point per annum.
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