CBA CHAIRMAN ATTACHES IMPORTANCE TO QUALITY RATHER THAN
QUANTITY OF CREDITS
04-04-2007 22:00:00 | Armenia | Economy
YEREVAN, APRIL 4, NOYAN TAPAN. Chairman of the Central Bank
of Armenia (CBA) Tigran Sargsian is not worried by the fact that
acoording to a report of Fitch Rating company, Armenia is in the
last place in the world by the ratio of crediting to GDP.
Responding to NT correspondent's question, he said that "the
quality rather than quantity of credits is important."
In his words, the quality of credits provided in the
Armenian banking system is much higher than, for example, "in
neighboring countries because our approach to classification of
credits is much stricter."
In the opinion of T. Sargsian, "if our rules of crediting
are introduced in neighboring countries, the amount of their
credit investments will sharply decline." And vice versa, "if we
change our methods of credit investment calculation and use
methods of neighboring countries, the amount of our credits will
increase. But we consciously do not follow this path."
To recap, in 2006 the crediting/GDP ratio made 9.2% in
Armenia, 12.4% in Azerbaijan, and 20.6% in Georgia.