Share Of Armenian Banks’ ‘Bad’ Loans Is 4.8%, Imf Resident Representative

Banks

YEREVAN, December 2, /ARKA/. The share of Armenian banks’ ‘bad’ loans is about 4.8%, the International Monetary Fund (IMF) Resident Representative to Armenia, Guillermo Tolosa said today.

He said the situation with ‘idle’ loans in Armenia is better than in many other countries of the Caucasian and Central Asian regions, where their share is very high.

Speaking at a forum on global and regional economic developments, he said the share of bad loans in Kazakhstan’s overall loan portfolio is 25.8%.

In Kyrgyzstan and Tajikistan the figure is 13%. Guillermo Tolosa said Armenian banks appeared to be well protected from the global economic and financial crisis’ impact.

According to official figures, the total assets of Armenian banks grew by 88.6 billion Drams in quarter three to 1.4 trillion Drams($1 – 359.4 Drams). –0–

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