YEREVAN, February 3. /ARKA/. Combined assets of credit organizations in Armenia increased by 12.9% in the fourth quarter of 2011 to about 123.9 billion drams, according to Central Bank of Armenia survey of crediting organizations’ performance in the fourth quarter of 2011.

Their amount of cash was said to rise to 1.2 billion drams, having increased by 3.7 times in comparison with the beginning of the quarter and the amount of current accounts in banks decreased by 3 3% to 4.7 billion drams.

According to the survey, loans to legal entities registered an increase of 14.4% to about 16.6 billion drams, while loans to individuals increased by 16.6% amounting to more than 55.8 billion drams. The amount of leasing, factoring recorded an increase of 14.5% to 6.1 billion drams. Loans to employees and affiliated persons decreased by 8.8% to about 2.3 billion drams.

The volume of obligations to banks and other financial institutions amounted to more than 31.9 billion drams, having increased during the reporting period by 7.2%.

At the end of December the cost of their other assets amounted to more than 3.5 billion drams, having increased by 3.8%. The size of the accrued interests amounted to more than 795 million AMD.

There are 32 credit institutions in Armenia operating 78 branches. ($1 - 387.31 drams). -0-