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Inactive Loans Comprise 7.8% Of Armenian Banks' Q1 Portfolio

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  • Inactive Loans Comprise 7.8% Of Armenian Banks' Q1 Portfolio

    INACTIVE LOANS COMPRISE 7.8% OF ARMENIAN BANKS' Q1 PORTFOLIO

    ARKA
    June 23, 2009

    YEREVAN, June 23. /ARKA/. Inactive loans comprised 7.8% of the Armenian
    banks' Q1 credit portfolio, Tigran Jrbashyan, Ameriabank's director
    for development, said on Tuesday.

    As of March 31, 2009, the local banks' loan portfolio totaled
    668.6bln drams.

    Citing the past experience of Japan, Indonesia and Russia, the expert
    said banks face major problems when inactive loans comprise 15%-20%
    of a country's total loan portfolio.

    "It shows we possess considerable reserves and an 'airbag', but we
    must always give a right assessment to the situation," Jrbashyan said,
    urging the banks to work out new programs to be able to weather a
    stronger economic storm.

    He said the picture will become more realistic after a summary of Q2
    banking activities. ($1-362.18 drams).
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