YEREVAN, September 10. /ARKA/. Bad assets at Armenia's banks will continue growing, Bagrat Asatryan, a former head of the Central bank of Armenia, said in an interview with ARKA News Agency.

According to the central bank's figures, the share of nonperforming loans in Armenian banks' aggregate loan portfolio reached 9.2% in June 2015 after growing 0.1% over one month. This is a quite high indicator. For comparison, the share of nonperforming loans was 6.1% in June 2014.

«I think we are coming up to the red line – it means this problem will grow to the scale that will make it not only banks' problem,» Asatryan said adding that a program able to remedy the situation is needed.

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The share of nonperforming and written-off assets at banks in Armenia reached 8.23% in late June 2015 after growing 0.04 percentage points over that month and 2.05 percentage points since the beginning of this year, the Central Bank of Armenia says on its website

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Armenian commercial banks’ average return on assets (ROA) index, showing a company’s efficiency in making profits from its assets, fell to 0.27% in the first quarter of 2015 from 0.91% in late December 2014

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The portion of idle and written- off assets rose by 2.14 percentage points to 6.15% in Armenia as of the end of 2014 compared to 2013, the Central Bank reported

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Around 380 billion drams or about 18% of Armenia-based commercial banks’ assets are lent to companies engaged in export and import transactions, deputy chairman of the Central Bank of Armenia Nerses Yeritsyan told reporters today

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Non-performing assets of Armenian banks as well as assets they have written off from their balance sheets stood at 5.94% in late July, up 0.61 percentage points when compared to late June, the Central Bank of Armenia said today

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