Friday, May 21 2010 17:36
Crediting of legal entities leaves behind crediting of individuals by growth rates
ArmInfo. Over Jan-Apr 2010 crediting of individuals by commercial banks and universal credit companies of Armenia grew by 67% as compared with Jan-Apr 2009 and amounted to 90.3 bln AMD, or 38% of the summary volume of the loans provided in Armenia over Jan-Apr, say the ACRA National Credit Bureau indices provided to ArmInfo. The market players provided legal entities with loans worth 144.3 bln AMD (62% of the total volume of loans issued), which is twice as much as the index of Jan-Apr 2009.
It is noteworthy that in 2010 in the summary credit portfolio of commercial banks and universal credit companies considerable growth was fixed by both commercial banks and credit companies, whereas from late 2008 ãîäà till late 2009 the market participants adhered to the policy of strict restriction of crediting due the crisis situation, particularly, crediting of individuals. Thus, over Jan-Apr 2010 the commercial banks provided individuals with loans worth 81.7 bln AMD, this index being by 64% higher than the index of the same period of 2009, and credit companies provided individuals with loans worth 8.6 bln AMD, which is twice as much as the index of Jan-Apr 2009. At the same time, both commercial banks and credit companies separately doubled the crediting of individuals to 141 bln AMD and 3.3 bln AMD respectively.
Over Jan-Apr 2010 the commercial banks and credit companies provided by 34% more loans to individuals than in Jan-Apr 2009. Over the period under review, the market participants provided individuals with 253163 loans (or 98% of total). In particular, the commercial banks provided individuals with 231960 loans (31,3% annual growth), and credit companies - 21203 loans (69,4% annual growth). At the same time, over Jan-Apr 2010 a total of 4035 loans (34,5% annual growth) were provided to legal entities, of them 3835 loans by commercial banks (32,2%annual growth), and 200 loans by credit companies (twofold annual growth).
The volume of crediting by commercial banks and credit companies of Armenia over Jan-Apr 2010 grew by 86,6% to 234.6 bln AMD as compared with Jan-Apr 2009, of them 95% fell on the loans provided by the commercial banks - 222.8 bln AMD (85,6% annual growth). The volume of crediting by credit companies of Armenia doubled as compared with Jan-Apr 2009, having amounted to 11.9 bln AMD.
As of 1 May 2010, the ACRA Credit Bureau had information about 28 mln redeemed and 681 thsd current loans provided by commercial banks and credit companies, as well as data about 949 thsd credit histories (of them 19 thsd being histories of legal entities, 930 thsd - histories of individuals).
To note, as of 1 May 2010 there were 22 commercial banks in Armenia and 28 credit companies, of them 23 universal credit organizations, 4 - leasing companies and 1 credit union. The ACRA Credit Reporting was founded in 2004 by Credential Inc. Today its shareholders are the Central Bank of Armenia with 10% shares, 17 commercial banks, First Mortgage Company, Dun & Bradstreet International LTD (USA), and other companies.
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