Tuesday, March 23 2010 16:06

58% growth of volume of credits issued by commercial banks and credit companies of Armenia in Jan-Feb 2010


ArmInfo. Volumes of credits issued by commercial banks and credit companies of Armenia in Jan-Feb, 2010, as compared to Jan-Feb, 2009, grew by 58% to 93.3 mln drams. As ACRA National Credit Bureau told ArmInfo, 95,4% or 89 bln drams of their total
volume fell on commercial banks. Moreover, volume of crediting by banks over the first two months, 2010, as compared to the similar period of 2009, grew by 57,1%. Volume of crediting by credit companies in Jan-Feb, 2010, as compared to the similar period, 2009 grew by 70,2% to 4.2 bln drams. In quantitative terms, commercial banks and credit companies issued 121409 credits over the first two months, having exceeded the indicator of Jan-Feb 2009 by 22,6%. Commercial banks issued 111109 credits over the reporting period (20,2% annual growth), an credit companies - 10300 credits (57,4% annual growth).

According to the source data, information about 2.7 mln repaid and 649,000 current credits was accumulated in ACRA Credit Bureau as of March 1, 2010, as well as 943.5 thsd credit histories, 18.2 thsd o which are histories of legal entities and 925.3 thsd - of individual persons. To note, there are 22 commercial banks functioning in Armenia as of March 1, 2010, as well as 27 credit companies, 22 of which are universal, 4 - leasing and 1 credit union.
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