CREDITING BY COMMERCIAL BANKS OF ARMENIA FOR JAN-JUL 2009 SUFFERS 23.4% DECLINE

ArmInfo
2009-09-11 13:33:00

ArmInfo. Armenian commercial banks provided a total of 252 billion
drams credits for Jan-Jul 2009, i.e. 23.4% less versus the same period
of 2008.

ACRA National Credit Bureau told ArmInfo banks provided 191.4 billion
drams credits for the 1st half of 2009, which was 28.1% less than a
year ago.

Nevertheless, crediting by banks grew 2.1 times in the 2Q versus the
1Q of 2009.

The source reported that commercial banks provided a total of 261855
credits for Jan- Jul 2009, which was 37% less than for the same
period of 2008. The number of credits provided by banks for the first
half of 2009 was down 24% versus the first half of 2008 and totaled
261855 credits.

ACRA Credit Bureau has data of 2.3 million redeemed credits and
602,000 current credits as well as 935 credit histories (including
17,000 credit histories of legal entities and 918,000 personal
credit histories). As of July 1 2009 there were 22 commercial banks
in Armenia.

ACRA Credit Reporting was founded in 2004 by Credential Inc. At
present among its shareholders are the Central Bank of Armenia (10%),
12 commercial banks, First Mortgage Company, American Dun & Bradstreet
International LTD and others. The bureau serves 22 commercial banks
and 17 credit companies.

From: Emil Lazarian | Ararat NewsPress