YEREVAN, June 23, \/ARKA\/. The share of bad credits in Armenia\u2019s banking system may fall to before-the-crisis level of 4.5% at the end of the year, a senior official of Armenia\u2019s Central bank said today.<\/p>\n
Speaking at a news conference Vahe Vardanian, head of a department in charge of financial policy management, said the share of bad credits late last year comprised 6.5% falling to 5.6% now.<\/p>\n
According to him, this figure is set to fall further due to increasing amount of new credits and absence of new bad credits in the last 2-3 months. According to Central Bank\u2019s figures, the share of bad credits in the first half of 2009 rose to 10 percent.<\/p>\n
Vahe Vardanian also predicted that the banking system\u2019s full-year income may grow to 20 billion Drams, from 8.4 billion Drams in 2009. In his words, the sector has already secured 8 billion Drams in income this year. The main task of the Central Bank now is to implement a set of measures designed to reduce the dollarziation level, he said.<\/p>\n
According to Central Bank\u2019s figures, the dollarziation level dropped in May from April. Particularly, the overall volume of deposits in the national currency, the Dram, increased by 0.1% while deposits in foreign currency drooped by 3.5%. However, in May more loans in foreign currency were extended than in Drams. ($1 \u2013 370.59 Drams).\u00a0 -0-<\/p>\n","protected":false},"excerpt":{"rendered":"
The share of bad credits in Armenia\u2019s banking system may fall to before-the-crisis level of 4.5% at the end of the year, a senior official of Armenia\u2019s Central bank said today.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12302,309],"class_list":["post-12508","post","type-post","status-publish","format-standard","category-banks-en-en","category-news","tag-armenia-2","tag-credits","tag-309"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t