LIABILITIES OF INDIVIDUALS IN ARMENIA’S BANKS 46.34% IN LATE MARCH 2008
ARKA
May 14, 2008
YEREVAN, May 14. /ARKA/. The share of individuals’ liabilities in the
credit portfolio of Armenia’s banks decreased by 0.26pct to 46.34%
in the first quarter (Q1) of 2008.
According to interim quarterly reports of Armenian banks, their total
credit portfolio (including extended credits and other liabilities)
totaled 477.6bln drams on March 31. Loans to individuals was 224.9bln
drams (against 422.7bln drams and 200bln drams correspondingly on
December 31, 2007).
At the same time, the share of consumer loans in the credits to
individuals was 57.63% (129.6bln drams) – 18.2% increase as compared
to early 2008.
The share of mortgage credits in total loans to individuals was 27%
(60.4bln drams) – 15.33% quarterly increase. The share of credit
cards in the credit portfolio was about 7% (15bln drams).
According to financial reports, Armenia’s banks extended 20.5bln
drams worth loans to private businessmen (20bln in early 2008).
The ACBA Credit-Agricole Bank ranked first by the share of credit
portfolio (18.99%) in March 2008. The share of credits to individuals
was 67.2% (42.7bln drams) in the bank’s total credit portfolio
(38.9bln drams on December 31, 2007).
The Ardshininvestbank and HSBC Bank Armenia are also among leaders
(29.2bln drams and 26.5bln drams respectively). The share of loans
to individuals in the credit portfolio of these banks was 41.8%
and 45.2% respectively.
These three leading banks’ share in loans to individuals was 43.74%. At
present, 22 banks operate in Armenia.
From: Emil Lazarian | Ararat NewsPress
