ArmInfo. "ArmInfo" Information Company has issued today 50th jubilee issue of "Ranking of Credit Companies of Armenia" financial analytical bulletin.
Bulletin provides the participants of the country's credit market with full information about the condition and activity of credit, micro finance organizations of Armenia. The initiative of issuing such a bulletin started to be implemented in the agency in 2003.
There were only six participants operating on the market of credit companies in that period: ACBA-Leasing, SEF Int., Express-Credit, Agro leasing, Gladzor and Arfin Credit Union. At that time total assets of the market participants totaled only 3.3 bln AMD while credit exposures slightly exceeded 2.4 bln AMD. Annually the number
of the participants of micro financial market was growing intensively and reached 33 in 2014, 29 of which are universal companies, 3- leasing companies and one is credit union. Because of economic difficulties related to drop of demand on credits and growth of bad loans three companies had to leave the market via mergers and one new company was established. However, total assets of the 31 companies running today have totaled 316.7 bln AMD and credit exposures totaled 274.1 bln AMD.
Overcoming the consequences of international financial crisis and in order to support mortgage market "National Mortgage Company" and "Affordable Housing For Young Families" companies were introduced to the market in 2011 upon the initiative of the Armenian government and Central Bank.
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