Saturday, May 15 2010 13:46

86,6% annual growth of crediting by Armenian banks and UCC


ArmInfo. Volume of crediting by commercial banks and credit companies in Armenia in Jan-Apr 2010, as compared to Jan-Apr 2009, increased by 86,6% to total of 234.6 bln drams.

As ACRA National Credit Bureau told ArmInfo, 95% or 222.8 bln drams out of the total volume of the provided credits fell on credits extended by commercial banks for Jan-Apr 2010. Moreover, volume of crediting by banks for the first four months of 2010, as compared to the similar period of 2009, grew by 85,6%.

Volume of crediting by Armenia's credit companies in Jan-Apr 2010, as compared to the similar period of 2009, grew twofold to 11.9 bln drams.

Credits extended by commercial banks and credit companies for Jan-Apr 2010 made up 257198 in quantitative terms, having exceeded the indicator of Jan-Apr 2009 by 33,8%. Commercial companies provided 235795 credits for the reporting period (31,3% annual growth), and credit companies - 21403 credits (69,6% annual growth).

Information about 2.8 mln repaid and 681,000 current credits, provided by banks and credit companies, as well as data about 949,000 credit histories (19,000 of which are histories of legal persons, 930,000 - of individual persons) were available in ACRA Credit Bureau as of May 1, 2010.

To note, there were 22 commercial banks, functioning in Armenia as of May 1, 2010, as well as 28 credit companies, 23 of which are universal, 4 - leasing and 1 credit union.
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