LENDING BY BANKS UP 87% FOR JAN 2010 IN ARMENIA

ArmInfo
12.02.2010

ArmInfo.Lending by Armenian commercial banks Jan 2010 versus the same
period of 2009 was up 87% to 32.1 billion drams.

ACRA Credit Bureau told ArmInfo the commercial banks provided 44572
loans for Jan 2010 which was 17.7% more than a year ago.

As of February 1 2010 ACRA Credit Bureau had databank on 2.6 million
redeemed and 635,000 current loans as well as nearly 942,2 thousand
credit histories (including 18,000 histories of legal entities and
924,2 thousand individuals).

As of February 1 2010 the banking system of Armenia encompassed 22
commercial banks.

"ACRA Credit Reporting" CJSC, the first private credit bureau
in Armenia, was founded in January 2004 by Credentials Inc. The
shareholders of the company are the Central Bank of Armenia (10%),
17 commercial banks, First Mortgage Company, Dun & Bradstreet
International LTD and other companies. All the 22 commercial banks
in Armenia and most of the loan companies use ACRA’s services.