YEREVAN, May 2. /ARKA/. Total assets of credit organizations of Armenia increased by 16.7% making 101.8 billion drams as of March 31, 2011 in the 1st quarter, states the review of CBA on the activity of credit organizations for the 1st quarter of 2011.

The amount of cash of credit organizations was 276.5 million drams increased by 12% compared with the beginning of the quarter. The amount of current accounts increased by 55.6% making 6.3 billion drams.

According to CBA review, total assets of credit organizations under the item “credits to legal entities” increased by 2.1% to about 12.8 as of March 31. Credits of physical entities increased by 8.4% making about 44.2 billion drams.

A slight increase of 0.3% to 4.6 billion drams was recorded by the item “leasing, factoring”. Credits of employees and affiliates increased by 13.3% making more than 2 billion drams.

Volume of requirements to the banks and other financial organizations was 25.2 billion drams.

By the end of March, the volume of other assets was about 4.4 billion drams, increased by 46.6%. The size of reserve to cover possible losses on assets reduced by 26.2% making 1.6 billion drams. The size of accrued interest was 632.5 million drams.

As of March 31, 2011, 31 credit organizations and 65 branches are registered in Armenia ($1 – 370.68 drams).—0—