YEREVAN, February 14. /ARKA/. Total liabilities of Armenia’s credit organizations rose by 25.2% to 132.2 billion drams in 2013 compared to 2012.

The Central bank of Armenia review of credit organizations for the fourth quarter says liabilities to banks and other financial institutions were 78.4 billion drams, a 25.4% increase against 2012.

Time liabilities to individuals rose by 25.6% and exceeded 10 billion drams by the end of December 2013.

Time liabilities to organizations, includes the government, hiked by 29.4% to over 36 billion drams in the period.

Demand liabilities were 877.4 million drams, an increase of 28.9% compared to 2012.

Other liabilities of credit organizations grew by 9.8% to 4.9 billion drams in 2013. Accrued interest amounted to about 2 billion drams, a 7.9% reduction.

There were 33 credit organizations and 126 branches operating in Armenia as of the end of December 2013. According to the Central Bank, total capital of credit organizations was 77.6 billion drams (23.4% year-on-year increase); total assets stood at 209.8 billion drams (24.5% increase) and profits were 5.7bln drams (19.5% increase). ($1=412.30drams).–0—