YEREVAN, May 17, /ARKA/. The combined capital of Armenian crediting organizations increased by 14.12% in the first quarter of 2011 or by 5.4 billion drams to 44 billion drams as of March 31.

According to an analysis, made by ARKA news agency, the National Mortgage Company topped the list of five largest organizations by size of capital that stood at 8.3 billion drams. The National Mortgage Company accounted for 18.96% of the combined capital of all crediting organizations.

Aregak crediting organization’s capital rose to over 7 billion drams (15.94% of the combined capital). Norvik universal crediting organization was third with 6.6 billion drams capital (15.08% of the combined capital), Bnakaran Yeritasardnerin (Housing to Young People) had 3.6 billion drams worth capital accounting for 8.17% of the combined capital and Finka organization’s capital was worth 2.4 billion drams (5.54% of the combined capital).

The largest growth rate of 330 percent in the first quarter of 2011 was reported by Kamurj (Bridge) crediting organization, second was Global Credit whose capital increased by almost 46% and the National Mortgage Company was third posting a 44.47% rise.

The leaders by size of charter capital were the National Mortgage Company (8 billion drams), Bnakaran Yeritasardnerin (3.5 billion drams) and Aregak (3.4 billion drams). There are 31 crediting organizations in Armenia with 62 branches. ($1 – 373.66 drams ).-0-