YEREVAN, May 10. /ARKA/. Total assets of Armenia’s banking system fell by 1.4% to 2.037.1 trillion  drams as of March 31 of 2012.

Central Bank’s overview of Armenian banks for the first quarter shows that cash volume in banks shrank 13.3% to nearly 77.3 billion drams from early first quarter.
Within the reported period liabilities to banks and other financial organizations confirmed the previous 118.8 billion drams as of March 31.

At the same time liabilities of banks to the Central Bank (including cor. accounts) dropped by 29.8% to 191.7 billion drams within the reported period. Correspondent accounts in banks also decreased by 11.9% to 51.5 billion drams in the first quarter.
Asset valuation reserve amounted to minus 30.1 billion drams against minus 26.1 billion drams in the fourth quarter of 2011.

Armenian banks increased lending to legal entities and individuals in the first quarter. Thus, the banks allocated 777.6 billion drams in loans to legal entities ( rise by 7%), and over 476 billion drams- to individuals ( increase by 12%).

At the same time, the loans given to individuals connected with banks, and bank employees dropped by 19% to 47.9 billion drams as of March 31, 2012.
According to the Central Bank’s overview investments to the government securities in total assets lost 11.4% reaching 148.5 billion drams as of late March.

Deposits to other stock slipped by 8.4% to 4.5 billion drams in late March.
As of March 31, 2012, there are 21 commercial banks with 444 branches in Armenia. ($1 – 392.47 drams). —0--