Monday, August 9 2010 14:33

Armenian commercial banks increase crediting volume by 85,4% over year


ArmInfo. Volume of crediting by commercial banks of Armenia in Jan-Jun 2010, as compared to the similar period of 2009, grew by 85,4%, and in June as compared to May - by 30,5% to 367.8 bln drams.

As ACRA National Credit Bureau told ArmInfo, the major part in the issued credit portfolio fell on credits to legal persons - 64%, or 235 bln drams with 90,8% annual growth. Commercial banks extended credits to individual persons over Jan-Jun to 132.8 bln drams, that exceeds the indicator of the similar period of 2009 by 76,5%.

Along with it, the number of credits issued by commercial banks in June, as compared to May, increased by 34,1%, and in Jan-Jun - by 34,1% per annum, to 363382 credits, the lion's share of which fell on credits to individual persons - 357503 credits, and the rest 5879 - credits to legal persons. Information of over 3 mln repaid and 622,000 current credits, as well as 954.5 thsd credit histories (19.1 thsd of which - histories of legal persons and 935.4 thsd - those of individual persons) was available in ACRA Credit Bureau as of July 1, 2010.

To note, 21 commercial banks were functioning in Armenia as of July 1, 2010.

To recall, ACRA Credit Reporting Bureau was created in 2004 by Credential Inc. Its shareholders include Central Bank of Armenia with 10% shares, 17 commercial banks, the "First Mortgage Company", American Dun & Bradstreet International LTD and other companies. All 21 commercial banks of Armenia and the majority of credit companies use the Company's services.
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