POPULATION’S INDEBTEDNESS TO ARMENIAN BANKS TOTALS 47.96% IN JAN-SEPT 2007

ARKA
Nov 8, 2007

YEREVAN, November 8. /ARKA/. The indebtedness of the population
to the Armenian banks totaled 47.96% in January-September 2007 –
6.18pct increase.

According to the interim financial accounts of Armenia’s banks,
their credit portfolio (only loans and deposits included) totaled
AMD 363.1bln in the third quarterly period of 2007. The bank loans
to the population amounted AMD 174.1bln.

The leader in the country’s crediting market is the ACBA-Credit
Agricole Bank (18.71%). The share of loans to the population in the
bank’s overall credit investments is 74.13% (about AMD 32.6bln).

The HSBC Bank Armenia (AMD 22.2bln) and Ardshininvestbank (AMD 20.6bln)
are also leaders in the crediting market. The specific weight of the
index in the overall credit portfolio of both banks totaled 47.81%
and 38.69% correspondingly.

Thus, the share of these three banks in the country’s system of
credits to individual residents is 43.28%. 21 commercial banks operate
in Armenia.

From: Emil Lazarian | Ararat NewsPress