YEREVAN, February 11. /ARKA/.Bless Universal Credit Organization’s credit portfolio grew 35% in 2009, compared with 2008, Hayk Stepanyan, executive director of the credit organization, said in an interview with ARKA News Agency.

He said that the credit portfolio amounted to AMD 2 billion 507 million by late 2009 against AMD 1 billion in 2008.

“The company built up its credit portfolio mainly by enlarging business loans, which made up 80% of the portfolio.”

Stepanyan said that despite the financial crisis, the company avoided major losses

“The company lent AMD 1.4 billion in 2009. The company’s clients are economic entities and individuals.

The company’s authorized capital amounting to AMD 200.0 million didn’t change in 2009, its total capital amounted to AMD 373.0 million and reserve fund AMD 49.4 million by late 2009, and this is a good result,” Stepanyan said in his interview.

Bless Universal Credit Organization was registered in May 2007.

The organization extends business and consumer loans.

According to ARKA News Agency’s information, the universal credit organization’s assets totaled AMD 2.6 billion by late December 2009 (the 8th position among Armenian credit organizations).

Its liabilities totaled AMD 2.2 billion (the 8th rank), capital amounted to AMD 373 million (15th position).

Bless, with its AMD 171.4 million, was the fifth largest profit-gainer among credit organizations.

Armenia had 27 credit organizations by late December 2009. ($1 = AMD 378.9). ---0---