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CBA: LOANS EXTENDED BY ARMENIAN BANKS DOUBLE IN 2008
ARKA
Nov 25, 2008
YEREVAN, November 25. /ARKA/. Bank lending volume grew by 50% in
Armenia in 2008 only, the Chairman of the Central Bank of Armenia
(CBA) Artur Javadyan told journalists in answering the question on
the alleged bank lending problems.
"Rumors that our banks are not giving credits are not true. Armenian
banks do provide loans," Javadyan said.
He stressed that attraction of foreign funds gives the banks
an opportunity to extend credits to a greater number of common
people. Armenia's commercial banks continue providing also consumer
credits.
Consumer credits somehow reduced as they contain some other risks,
dependence on expected income of individuals in future in particular
- that us why banks have set certain limitations and are extending
credits not to everybody, Javadyan said.
Today 22 commercial banks with 367 branches operate in Armenia. Total
assets of Armenia's banking system had amounted to 954.1bln Drams
by the end of September this year with total capital and liabilities
amounting to 214.9bln Drams and 739.2bln Drams respectively. The volume
of economy crediting reached 617.5bln Drams against 434.5bln Drams
in the beginning of the year, including consumer credits - 172.5bln
Drams and mortgage credits - 81bln Drams. ($1=305.59Drams).
ARKA
Nov 25, 2008
YEREVAN, November 25. /ARKA/. Bank lending volume grew by 50% in
Armenia in 2008 only, the Chairman of the Central Bank of Armenia
(CBA) Artur Javadyan told journalists in answering the question on
the alleged bank lending problems.
"Rumors that our banks are not giving credits are not true. Armenian
banks do provide loans," Javadyan said.
He stressed that attraction of foreign funds gives the banks
an opportunity to extend credits to a greater number of common
people. Armenia's commercial banks continue providing also consumer
credits.
Consumer credits somehow reduced as they contain some other risks,
dependence on expected income of individuals in future in particular
- that us why banks have set certain limitations and are extending
credits not to everybody, Javadyan said.
Today 22 commercial banks with 367 branches operate in Armenia. Total
assets of Armenia's banking system had amounted to 954.1bln Drams
by the end of September this year with total capital and liabilities
amounting to 214.9bln Drams and 739.2bln Drams respectively. The volume
of economy crediting reached 617.5bln Drams against 434.5bln Drams
in the beginning of the year, including consumer credits - 172.5bln
Drams and mortgage credits - 81bln Drams. ($1=305.59Drams).