OVERALL BALANCE CAPITAL OF ARMENIAN CREDIT ORGANIZATIONS GROWS BY 15.4% IN JULY-SEPTEMBER 2007

Noyan Tapan
Oct 25, 2007

YEREVAN, OCTOBER 25, NOYAN TAPAN. As of September 30, 2007, 20 credit
organizations with 35 branches operated in Armenia. According to data
of the Central Bank of Armenia (CBA), the actual authorized fund of
these credit organizations made 9 bln 874 mln 952 thousand drams (about
29 mln 924 thousand USD), growing by 10.3% in July-September. The
overall balance capital of credit organizations made 10 bln 974 mln
438 thousand drams as of September 30, 2007, growing by 15.4% in the
third quarter.

The overall liabilities of Armenian credit organizations amounted to
27 bln 668 mln 20 thousand drams as of September 30, 2007, growing by
21.5% in the third quarter. The respective indices of overall assets
made 38 bln 642 mln 548 thousand drams and 19.7%.

As of September 30, 2007, standard loans and debts made up 97.4%
of the credit organizations’ overall portfolio of loans and bills
receivable of a total of 37 bln 835 mln 205 thousand drams.

The total amount of loans given by credit organizations to residents,
as well as deposits, sums provided as factoring and leasing made
35 bln 66 mln 134 thousand drams as of September 30, 2007 (20.1%
growth). 4 bln 330 mln 207 thousand drams was provided to industry
(22.9% growth), 3 bln 128 mln 463 thousand drams – to agriculture
(22% growth), 1 bln 800 mln 405 thousand drams – to construction
(43.8% growth), and 1 bln 373 mln 447 thousand drams – to transport
and communication (12.6% growth).

8 bln 171 mln 918 thousand drams was given by credit organizations to
Armenia’s trade sector (14.9% growth), 682 mln 369 thousand drams – to
the financial sector (49.8% growth). The consumer credits provided made
5 bln 875 mln 903 thousand drams (15.3% growth), mortgage crediting –
4 bln 18 mln 850 thousand drams (31% growth), and sums provided to
other sectors made 5 bln 684 mln 572 thousand drams (41.9% growth).

The gross revenues of credit organizatons made 6 bln 21 mln 419
thousand drams as of September 30, 2007, gross expenditures – 4 bln
570 mln 484 thousand drams, and their net and undistributed profits –
1 bln 346 mln 602 thousand drams.