Armenian credit organizations’ lending is up 11% to 394.3 billion drams

21.05.2018 15:47
Armenian credit organizations’ lending is up 11% to 394.3 billion drams

YEREVAN, May 21. /ARKA/. The overall amount of lending and leasing operations of Armenia-based 35 credit organizations in the first quarter of 2018 amounted to 394.3 billion drams, an increase of 11% or 39.2 billion drams from the beginning of the year, according to ARKA news agency’s bulletin "Credit Organizations of Armenia" for the first quarter of 2018.

Compared with the first quarter of 2017 the lending increased by 78.6 billion drams or by 25%.

The top five credit organizations by size of lending in the first quarter of 2018 were Export-Finance, Bnakaran Yeritasardnerin, National Mortgage Company, Fast Credit and Finca.

Export Finance’s lending at the end of the quarter stood at 80.7 billion drams, an increase of 12.8% year-on-year. Bnakaran Yeritasardnerin increased its lending by 32.6% to 53.8 billion drams and the National Mortgage Company by 5.3% to 42.3 billion drams.

Also Fast Credit’s lending was up by 36.4% to 26 billion drams and the volume of crediting by Finca in the reporting quarter totaled 24.2 billion drams, down 2.3% when compared to the same period last year.

The combined assets of the credit organizations were worth 520.37 billion drams (a growth of 21.16% year-on-year); their liabilities grew by 22.7% to 285 billion drams and their capital increased by 19.35% to 235.3 billion drams. ($ 1 - 483.26 drams). -0


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