Armenian credit organizations’ assets reach amd 78.3 billion

03.11.2009 21:12
Armenian credit organizations’ assets reach amd 78.3 billion

YEREVAN, November 3. /ARKA/. Armenian credit organizations’ assets reached AMD 78.3 billion by September 30, 2009, after growing 9.1% over the third quarter, the Central Bank of Armenia reports.

Credit organizations’ cash totaled AMD 238.7 million after growing 44.8% from the beginning of the quarter, and aggregate current accounts have grown 216.6% over the quarter to AMD 6515.8 million.

According to the central bank’s quarterly review of credit organizations’ activities, the organizations lent AMD 13.4 billion to legal entities in the 3rd Q 2009 - 32.8% reduction.

Loans for individuals shrank 5.5% to AMD 30.9 billion.

Credit organizations also showed reduction in leasing and factoring – 0.5% to AMD 5.5 billion.

They lent AMD 924.9 million to related persons – 70.9% growth.

Liabilities to banks and other financial organizations grew 99.1% to AMD 17.6 billion.

Other assets totaled AMD 1202.8 million by late September after growing 41.2%.

Credit organizations’ aggregate reserves for covering possible losses on assets reduced 8.4% to AMD 1406.5 million.

Fixed assets grew 3.7% reaching AMD 1135.6 million.

Interest proceeds amounted to AMD 482.5 million.

Armenia has 27 credit organizations and 53 branches. ($1 = AMD 385.29). -0--

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