Friday, April 30 2010 09:08
Liabilities of Armenia's commercial banks over 1Q, 2010, grew by 4,8% to1.1 tln drams
ArmInfo. Total liabilities of Armenia's banking system over 1Q, 2010, grew by 4,8% and made up 1.098 tln drams or $2.7 bln by March 31. As Armenian Central Bank's press service told ArmInfo, the maximum specific weight in their structure fell on the liabilities to the banks (including Armenian CB) and other financial institutions - 27,3%, demand liabilities - 25% and fixed deposits of individual persons - 24,5%.
According to the source, liabilities to the banks and other financial institutions over 1Q, 2010, reduced by 1,9% to 299.3 bln drams ($747.3 mln), 10.5 bln drams of which are liabilities on loro accounts (60,3% quarterly growth). Demand liabilities over the reporting period grew by 8,9% to 274.9 bln drams ($686.4 mln). Fixed deposits of individual persons, attracted by commercial banks, grew over 1Q by 8,5% and made up 268.9 bln drams ($671.3 mln) by March 31. Moreover, fixed deposits of legal persons, attracted by commercial banks, reduced over the reporting quarter by 6,5% and made up 118.2 bln drams ($295.2 mln) by March 31. Liabilities to the government over 1Q grew by 21% to 81.8 bln drams. Other liabilities over 1Q grew by 16,1% to 43.9 bln drams, interest payments due - by 9,4% to 11.1 bln drams.
According to Armenia's CB data, there were 22 commercial banks and 389 branches functioning in Armenia as of March 31, 2010, against 391 branches as of December 31, 2009.
To note, since July, 2009, Armenia has started receiving standby arrangement funds from the World Bank and Russian stabilization credit, part of which is envisaged for funding of small and medium business through commercial banks. These funds in dram equivalent were provided to commercial banks by Central Bank and the government.
