Wednesday, November 30 2011 20:23

As of Oct 1 2011 foreign debt of Armenia's financial sector totalled $1.312bln


ArmInfo. In Jan-Sept 2011 Armenia's commercial banks and credit companies received $1.312bln in the form of direct and indirect investments and loans (with $57.5mln being direct investments).

Referring to the Central Bank, the National Statistical Service reports that $457mln ($19.6mln in direct investments) were received from Russia (35% of the total), $113.8mln ($206,800) from international organizations (8.7%), $43mln ($11.5mln) from Latvia (3.3%), $41.7mln from the United Kingdom (3.2%) and $32.7mln from Luxembourg (2.5%).

From Germany Armenia's commercial banks and credit companies received $25.8mln, from Lebanon - $16.3mln ($5.3mln in direct investments), from Kazakhstan - $15mln, from France - $14.97mln, from Greece - $10mln, from the United States - $6.3mln ($1.011mln), from Virgin Islands - $4.7mln, from Cayman Islands - $4mln, from Switzerland - $3.2mln, from the Netherlands - $1.3mln, from Iran - $719,300, from Cyprus - $1,400.

Armenia's commercial banks are implementing over 15 international programs, with their shares held by Russian, Ukrainian, Kazakh, American, French, German, British, Austrian, Swiss, Argentinean, Lebanese and Iranian entities as well as the EBRD and the IFC. Some of the credit companies have Latvian, American, British, French and Russian shareholders.

As of Oct 1 2011 Armenia had 21 commercial banks and 31 credit companies (27 universal credit companies, 3 leasing companies and 1 credit union).
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