CONSUMER LOANS ARE AGAIN IN DEMAND IN ARMENIA
ArmInfo
17.03.2010
ArmInfo. In Jan 2010 as compared with Jan 2009 th amount of consumer
credits grew by 17%, CE of ACRA Credit Bureau Artak Arzoyan said in
an interview to ArmInfo.
This growth is the result of successful anti-crisis measures. The
average amount of a consumer credit has grown by 30% to 265,000 AMD
due to different foreign exchange rate in Jan 2010 and more liberal
credit policy. In 2009 consumer lending was low due to the banks’
careful policy and the regulator’s tough anti-risk requirements. This
vigilance and toughness has proved its efficiency: the banks’ high
liquidity has helped them out of the crisis. Today, the Armenian
banks are overcoming the difficulties.
As of Feb 1 2010 ACRA Credit Bureau had information about 2,600,000
repaid and 635,000 current loans as well as 942,200 credit reports
(18,000 legal entities, 924,200 physical entities).