CREDIT ORGANIZATIONS COMPLETE FIRST HALF OF 2004 WITH 141.9 MLN DRAMS
INCOMES

YEREVAN, JULY 28. ARMINFO. Gross incomes of credit orgnaizations
totaled 799.3 mln drams on July 1, 2004, expenses 656.8 mln drams. The
press-service of the Armenian CB told ARMINFO. As a result, incomes
prevailed over expenses and credit organizations completed the first
half of 2004 with 141.9 mln drams incomes.

In the structure of gross incomes of credit orgnaizations, interest
incomes totaled 274.5 mln drams or 34.3% on July 1, 2004. The share of
noninterest incomes in the structure of gross incomes totaled 12% or
96.3 mln drams. In the structure of gross expenses, interest expenses
totaled 36.5 mln drams or 5.6% on this date, noninterest expenses
233.1 mln drams or 35.5%.

According to data of the CB, by July 1, 2004, 7 credit orgnaizations
and 1 branch operated in the territory of Armenia. At the same time,
Express-Universal, SEF-International and Gladzor are universal credit
orgnaizations, ACBA-Leasing and Agrileasing – leasing orgnaizations,
Arfin – credit union and “First Mortgage Company” – mortgage credit
orgnaization.