YEREVAN, March 10. /ARKA/. Armenian credit organizations’ aggregate assets and credit portfolio grew 15% in 2009, Vahe Vardanyan, chief of Armenian Central Bank’s division for regulating financial system policy, said Wednesday at an annual assembly of Association of Credit Organizations of Armenia.
He found it quite remarkable, especially amid the crisis. Vardanyan welcomed credit organizations’ determination to continue their services and build up their credit portfolios despite the crisis.
He said Armenian credit organizations showed quite fast growth in recent two or three years.
They built up their assets and loans and lending by 60% every year. Vardanyan said that this result is as high as that of banks.
Their aggregate assets amounted to AMD 75.8 billion, total capital reached AMD 26.2 billion, and liabilities AMD 49.6 billion by late December 2009.
Credit organizations have lent AMD 44.1 billion to the economic sector. Armenia has 28 credit organizations now. ($1 = AMD 388.92). –0–
