Tuesday, August 2 2011 18:19
Provision of foreign currency crediting by Armenian commercial banks prevails of dram crediting in the first half-year 2011
ArmInfo. Provision of crediting by Armenian commercial banks for June 2011 was up 1.8% to 1.109 trillion drams ($3.008 bln) as of July 1, which was 37.7% more versus June 2010, and by 17,8% more versus Jan-Jun. Exclusive of prolonged and overdue loans, the provision of crediting totaled 1.066 trillion drams ($2.891 bln).
The preliminary data of the Armenian Central Bank provided to ArmInfo by the National Statistical Service of Armenia say the share of credits in the national dram was 40.5% of 432.4 bn drams in summary credit portfolio of the commercial banks (exclusive of prolonged and overdue loans). The share of foreign credits was 59.5% or 634.1 bn drams (a 1,7% growth for June 2011 and 24.7% growth for Jan-June).
In the structure of the credits issued by commercial banks of Armenia the share of prolonged credits was 3.4% or 38.5 bn drams as of July 1 2011, the share of overdue credits was 0.4% or 4.5 bn drams. The volume of prolonged credits for June 2011 fell by 7,4%, the share of overdue credits grew by 0,7% (20,9% growth for Jan-June 2011, and 11,2% falling versus the same period of 2010). The share of the short-term credits in prolonged credits was 65.8% or 25.3 bn drams. In the portfolio of overdue loans, the share of short-term credits was the highest - 97.3%.
The source reported that interest rates for credits in the Armenian dram were down for June 2011 from 17.62% to 17.24% and up 1,4 points versus June 2010.
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