ArmInfo. The Central Bank of Armenia has registered a new UCO - First Factoring Company. The CBA press office has told ArmInfo that the CBA Board took the decision to provide the relevant license to "First Factoring Company" UCO on August 2.
Thus, the number of the credit companies in Armenia will grow to 32 and the number of the universal credit organizations will rise to 28. At the moment there are 27 UCOs in Armenia, 3 leasing companies, and 1 credit union. As of 1 July 2016, the aggregate assets of the credit companies amount to 316.7 bln AMD (11.5% year-over-year growth), with 87% of this amount being the lending (9.2% year-over-year growth in the absolute value). The aggregate net profit of the credit companies in Jan-June 2016 totaled 5.1 bln AMD (1.6% y-o-y rise).