Armenian credit organizations’ lending ups 15% in first half to 321.6 billion drams

17.08.2017 18:03
Armenian credit organizations’ lending ups 15% in first half to 321.6 billion drams

YEREVAN, August 17. /ARKA/. The amount of lending provided by thirty-four credit organizations, operating in Armenia, in the first six months of 2017, surged by 15.3% from the beginning of the year to 321.6 billion drams, according to the latest edition of ARKA news agency’s financial and economic bulletin "Credit Organizations of Armenia."

According to quarterly reports of credit organizations, the top five organizations by size of lending were Export Finance, Bnakaran Yeritasardnerin, the National Mortgage Company, Finca and Fast Credit.
Export Finance’s lending increased by 59% to 70.9 billion drams as of late June. Bnakaran Yeritasardnerin increased lending by 24% to 43.6 billion drams.

The amount of loans provided by the National Mortgage Company grew by 1.79% to 40.6 billion drams. Lending by Finca in the first half of the year amounted to 24.1 billion drams, 4.3% less from the beginning of the year and Fast Credit’s lending increased by 10.4% to 19.9 billion drams.

At the end of June 2017, the combined assets of all credit organizations totaled 434.3 billion drams (an increase of 9.9%), their liabilities stood at 223 billion drams (an increase of 6.26%) and their capital grew by 14.1% to 211.3 billion drams. -0-


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