CREDITS PROVIDED BY ARMENIAN COMMERCIAL BANKS FOR JAN-NOV 2009 UP 13,1% TO $1.8 BILLION

ArmInfo
11.01.2010

ArmInfo. Credits provided by the Armenian commercial banks for
Jan-Nov 2009 were up 13,1% to 719.2 billion drams or $1.8 billion
by 1 December. Exclusive of rolled over and overdue credits, this
indicator totaled 694 billion drams or $1.79 billion, having grown
by 1.4% for Nov, and by 10.4% for Jan-Nov.

The preliminary data of the Armenian Central Bank provided to
ArmInfo by the National Statistical Service of Armenia, say in the
total credit portfolio of commercial banks (rolled over and overdue
loans exclusive), the share of credits in terms of Armenian dram was
48,2% or 334.6 billion drams (2.8% growth for Nov, 13.5% decline for
Jan-Nov). The share of foreign exchange credits was 51.% or 359.4
billion drams (0.2% growth for Nov, 48.6% for Jan-Nov).

Long-term AMD credits made up 78,2% of total or 261.7 billion AMD
(up 1.2% for Nov, down 8.8% for Jan-Nov), and the share of short-term
AMD credits was 21,8% or 72.8 billion drams (9% growth for Nov,
27% decline for Jan-Nov). The share of long-term foreign exchange
credits was 78,6% (282.4 bln AMD, 1.3% growth for Nov, 48,7% growth
for Jan-Nov), and the share of short-term foreign exchange credits
was 21,4% (77 bln AMD, 3,7% decline for Nov, 48,4% growth for Jan-Nov).

The share of rolled over credits in total was 2,4% or 17.2 billion
drams as of December 1 2009 (down 11,8% for Nov, up almost 5 times
for Jan-Nov 2009), the share of overdue credits in total was 1.1%
or 8 billion drams (down 10.4% for Nov, up over twice for Jan-Nov).

The share of short-term credits in rolled over credits was 95,6%
or 16.4 billion drams (down 10.8% for Nov, up almost 5 times
for Jan-Nov). Almost all the overdue credits were short-term. The
interests on deposits in terms of the national dram were down for
November from 18.66% to 18.65%, which was 2.16 percentage points
lower than in January.

From: Emil Lazarian | Ararat NewsPress