Thursday, June 17 2010 13:09

Armenia's credit companies double their portfolios


ArmInfo. Volume of crediting by Armenia's credit companies in Jan- May 2010, as compared to the similar period of 2009 grew more than twofold, and in May as compared to April, grew by 27% to 15 bln drams.

As ACRA National Credit Bureau told ArmInfo, the highest share out of the total volume of issued credits fell on credits to individual persons - 77% or 11.6 bln drams with 76% annual growth. Volume of crediting of legal entities over five months of 2010 exceeded the indicator of the similar period of 2009 by 88% to 3.5 bln drams.

Considerable growth was also assured in quantitative terms. So, in Jan-May 2010 credit companies provided 27217 credits with 68,3% annual growth, and growth in May made up 27%. In particular, 26966 credits were issued to individual persons over 5 months, and 251 credits - to legal entities.

There was an information available in ACRA Credit Bureau as of June 1, 2010, about 3 mln repaid and 618,000 current credits, as well as about 951.4 thsd credit histories (18.9 thsd of which are histories of legal entities and 932.5 thsd - histories of individual persons).

To note, there were 28 credits companies functioning in Armenia as of June 1, 2010, 4 of which are leasing companies, 23 - universal credit companies and 1 credit union.

To recall, ACRA Credit Reporting Bureau was created in 2004 by Credential Inc. Its shareholders currently include Central Bank of Armenia with 10% shares, 17 commercial banks, "First Mortgage Company", American Dun & Bradstreet International LTD and other companies. All 22 commercial banks of Armenia and the majority of credit companies use the Company's services.
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Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
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