Friday, May 11 2012 13:27
Assets of Armenian credit companies up 7.6% to $341 million for Q1 2012
ArmInfo. Total assets of the universal credit companies of Armenia grew 7.6% for Q1 2012 to 133.2 bln drams or $341.1 mln, the press-service of the Armenian Central bank reports.
In the structure of credit exposures of the credit companies, consumer loans grew 13.6% for Q1 and totaled 63.4 billion drams ($162.3 million) for late Q1 2012. Corporate loans grew 12.4% to 18.6 billion drams.
Related persons received 1.2 billion drams ($3.1 million) loans with a 46% quarterly decline. Cash fell 74.6% for Q1 to 303.4 million drams ($776.6 thousand) as of April 1. Leasing and factoring operations grew 5.4% to 6.4 billion drams ($16.5 million) for Q1. Cash on nostro-accounts grew 21.3% to 5.7 bln drams ($14.6 mln). Claims to banks and other financial organizations grew 1,5% to 32.4 bln drams ($82,8 mln).
Investments of credit companies in key assets for Q1 2012 fell 25.8% to 2.4 bln drams, investments in securities fell 2% to 1.7 bln drams. Other assets grew 32.5% to 4.6 bln drams. Possible loss reserves on assets grew 14% to 4.8 bln drams.
By data of the Central Bank, as of April 1 2012 there were 32 credit companies and 78 branches in Armenia.
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