YEREVAN, February 24, /ARKA/. Combined assets of Armenia’s crediting organizations grew by 0.86% in the last quarter of 2010 or by 764 million Drams to 90 billion Drams as of December 31, according to an analysis made by ARKA based on their financial reports.

The leading organization by size of assets was Norvik that had 11.1 billion Drams despite its assets slashed by 38% or 6.8 billion Drams in the quarter 4. Norvik accounted for 12.37% of the combined assets of all crediting organizations.

The five top originations’ list included also the National Mortgage Company that posted a 5% rise in the last quarter of 2010. Its assets stood at 10.3 billion Drams as of December 31. The organization accounted for 12% of the combined assets of all crediting organizations.

Aregak universal crediting organization came in third after posting a 1.77% increase or 178 million Drams to 10.2 billion Drams and accounting for 11.31% of the combined assets. Finka crediting organization was fourth. Its assets rose by 14% to 10.1 billion Drams. Finka accounted for 11.22% of the combined assets. ACBA Leasing was fifth. Its assets dropped by 4.8% or 403.8 million Drams to 7.9 billion Drams. It accounted for 8.9% of the combined assets.

The highest assets growth rate in Q4, 2010 was reported by Kamurj organization. Its assets were said to have grown by a factor of 16 to 2.9 billion Drams. The assets of the Ecumenical Church Fund grew by 28% to 1.3 billion Drams and those of Gladzor organization by 25% to 722 million Drams. There are presently 32 crediting organizations in Armenia operating 62 branches. ($1 – 364.58 Drams). -0-