Sun, 14 September
23.1 C
Yerevan
USD: 383.47 RUB: 4.56 EUR: 449.96 GEL: 142.03 GBP: 519.91

UCO “Farm Credit Armenia” Plans In 2012 To Increase Its Credit Portfolio And Leasing Operations To 70%

YEREVAN, November 30. /ARKA/. UCO “Farm Credit Armenia” plans in 2012 to increase its credit portfolio and leasing operations to 70%, said General Director of Universal Credit Organization (UCO) Armenia Gabrielyan to ARKA News Agency.

As of October 31, 2011 total credit portfolio of Farm Credit Armenia (including leasing) was about 2.3 billion drams, number of implemented transactions – 1.054, and the number of clients as of the reporting date was 890.

Farm Credit Armenia is the only commercial cooperative in financial sphere of the country.
“Our organization provides credits for the development of agriculture and small and medium-sized business only in rural areas. In this sphere not all the banks and credit organizations are working”, said Gabrielyan.

He said that the conditions of credit products in Farm Credit Armenia (repayment dates, percent rate, repayment schedule, etc.) are rather competitive in the market of the given services. Gabrielyan mentioned the leading positions of the company in the provision of agricultural machinery and equipment by leasing.

“Farm Credit Armenia” was established in September 2007. According to the data of ARKA News Agency, as of September 30, 2011 assets of the company were 2.5 billion drams, liabilities – over 2 billion drams and total capital – 482 million drams.

According to the data of CBA, as of September 30, 2011 in Armenia 31 credit organizations (CO) with 70 branches are operating. Assets of COs in the nine months were 109.7 billion drams, capital – 42.5 billion drams and liabilities – 67.2 billion drams. ($1 – 382.74 drams). –0–

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Central Bank of Armenia initiates discussions on draft by-laws related to Law on Cryptoassets

The Central Bank of Armenia is set to conduct a public discussion on  the draft by-laws essential for implementing the Law on Cryptoassets, which became effective on July 4 of this year, as reported by the regulator's press service.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img