Monday, August 8 2011 12:03

Assets of Armenian credit companies up 1.7% for Q2 2011


ArmInfo. Over Q2 2011 the total assets of the credit companies of Armenia grew by 1.7% to 103.5 billion AMD, or $280.6 million, the press service of the Central Bank of Armenia reported.

According to the source, over Q2 2011 the credit companies' funds on nostro accounts were down 16.1% to 5.3 billion AMD ($14.4 million). The liabilities to banks and other financial organizations were up 9.1% to 27.4 billion AMD ($74.4 million).

In the credit portfolios the biggest volume of loans - 47.2 billion AMD ($128.2 mln) fell on the credits to individuals (7% growth for Q2 2011). The volume of loans provided to legal entities was down 0.1% to 12.8 billion AMD ($34.7 million).

The volume of loans provided to related parties amounted to 2.1 billion AMD ($5.7 million), the quarterly growth being 5.7%. The cash funds grew by 3% to 284.7 million AMD ($772 thsd) by 1 July. The volume of leasing and factoring operations over Q2 2011 grew by 2.9% to 4.7 billion AMD ($12.8 million).

The CBA says that as of 1 July 2011 there were 31 credit companies and 70 branches in Armenia.
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