LENDING BY UNIVERSAL CREDIT ORGANIZATIONS UP 70.2%
ArmInfo
19.03.2010
ArmInfo. Lending by Armenian commercial banks and credit companies
for Jan-Feb 2010 as compared to the same period of 2009 grew 70.2%
to 4.2 billion drams.
ACRA Credit Bureau told ArmInfo the UCOs provided 10300 loans for Jan-
Feb 2010 which was 57.4% higher than a year ago.
The source reported that ACRA Credit Bureau has databank on 2.7
million redeemed and 649,000 current loans as well as nearly 943,5
credit histories (including 18,2 thousand histories of legal entities
and 925,3 natural persons).
As of March 1 2010, there were 22 credit companies in Armenia,
including 4 leasing companies, 22 UCOs and a credit union.
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.