GROWTH OF LOAN INVESTMENTS

Azat Artsakh – Nagorno Karabakh Republic (NKR)
13 Sept 04

Recently trade banks have been reporting growth of activity in the
financial sector. According to the data provided by the NKR National
Statistics Service, by July 1 of this year the amount of loans provided
by trade banks (in AM drams or foreign currency) totaled 8178.4 million
drams and from January 1, 2004 grew by 2144.9 million drams or 35.5 per
cent. About 76 per cent of the amount of loans which totals 6225.9 per
cent was provided in foreign currency. The amount of loans provided
in foreign currency increased from January 1 of the current year by
22.1 per cent or 1126.8 million drams. In the mentioned period the
amount of delinquent loans and extended loans totaled respectively
50.8 and 50.1 million drams. Against January 1 the amount of loans
with extended terms increased by 62.3 per cent, and delinquent loans
by 16.5 per cent. Foreign money transfers received during the first
half of 2004 totaled 5061.5 drams and grew by 89.5 per cent against
the first half of 2003. The share of the foreign money transfers by
natural persons was 19 per cent.

AA.
13-09-2004