The level of the total credit portfolio of Armenian commercial banks rose by 2% in June and by 9.3% in the first half of 2010, with the annual reserve rising by 27.7%, to $2.2 billion, PRIME-TASS reports, citing the Central Bank of Armenia.
Excluding prolonged and overdue credits, the portfolio of commercial banks rose by 1.9% and the annual reserve by 26.5%, making $2.1 billion.
The total portfolio for credits of commercial banks that had recession in June by 0.5% had a growth of 1.2% and 16.6% in the annual reserve, making 46%, or 352.3 billion drams.
The currency reserves in June rose by 4% and by 15.8% in the first half of 2010, with the annual reserve up by 36.2%, making 54% or 414.6 billion drams. The dram's interest rate dropped in June from 20.02% to 18.66% and in the annual reserve by 0.02%.
The total income of commercial banks of Armenia in the second quarter of 2010 reached $304.3 million and expenses reached $263.2 million. The total income balance reached $41.1 million. Net profits reached $32.6 million.
The total amount of deposits of commercial banks involved dropped in June 2010 by 1.9% and in the first half of 2010 fell 3.3%, with the annual reserve rising 13.5%, reaching $1.7 billion.
The share of dram deposits is 27% or $464 million, currency part – 73% or 458.7 billion drams. The proportion of dram deposits rose in June by 1.2%. The remaining deposits of the population amounted to 300.2 billion drams, falling 0.7%, the annual reserve rose by 28.3%, the rate of dram deposits for June 2010 dropped from 9.73% to 9.17%, with the annual reserve dropping 0.3%. Armenia currently has 21 commercial banks with 393 branches.
