Armenian credit organizations increase lending by 51.2 billion drams

16.11.2018 18:47
Armenian credit organizations increase lending by 51.2 billion drams

YEREVAN, November 16. /ARKA/. Loans issued by credit organizations in Armenia amounted to 406.4 billion drams at the end of September, having increased by 51.2 billion drams or 14.4% from the beginning of the year.

According to ARKA news agency’s bulletin “Credit Organizations of Armenia” for the third quarter of 2018, credit organizations’ lending grew by 9 billion drams or by 2.28% from the previous quarter.

The top 10 lending leaders in the first nine months were Export Finance, Bnakaran Yeritasardnerin, National Mortgage Company, First Factoring Company, Fast Credit, Finca, Aregak, Global Credit, AGBA-Leasing and Kamurj.

Export Finance increased lending by 7.4% to 74.8 billion drams at the end of September. The loan portfolio of the Bnakaran Yeritasardneri grew by 8.1% to 56.5 billion drams, while that of the National Mortgage Company decreased by 2.8% to 41.1 billion drams.

The First Factoring Company increased its loan portfolio by 8.9 times to 31.3 billion drams. The loan portfolio of the Fast Credit stood at 26 billion drams in late September having grown by 15.2% from the beginning of the year, that of Finca – at 21.8 billion drams (a decline of 7.8%), and that of Aregak – at 17 4 billion drams (an increase of 2%). The lending by Global Credit stood at 14.8 billion drams (an increase of 20.2%), that of AGBA-Leasing – at 14.5 billion drams (an increase of 13.1 %), and that of Kamurj - at 11.8 billion drams (a decline of 6%).

The assets of all credit organizations were worth 553.2 billion drams (a growth of 15.2%), liabilities – at 297.5 billion drams (a growth of y 35.7%), and capital – at 255.7 billion drams (a decline of 2%). -0-


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