ARMENIAN CREDIT ORGANIZATIONS' TOTAL CAPITAL GROWS 13.5% TO AMD 20.2 BILLION

ARKA
May 7, 2009

YEREVAN, May 7. /ARKA/. Total capital of Armenia's credit organizations
has grown 13.5% over the first quarter of 2009 reaching AMD 20.2
billion by late March, Central Bank of Armenia says in its quarterly
review of credit organizations' activities.

Credit organizations' authorized capital reached AMD 15.2 billion by
late March after growing 9.8% over the first quarter of this year.

Non-residents' participation in Armenian credit organizations amounted
to AMD 10.2 billion by late March. This amount is 10.3% greater than
that recorded by the end of the fourth quarter of 2008.

Broad reserve in credit organizations' aggregate capital totaled AMD
329.6 million in the first quarter.

Undistributed profit accumulated in the account of capital credit
organizations' capital grew from AMD 3 billion at the end of the
fourth quarter of 2008 to AMD 3.2 billion by the end of the first
quarter of this year.

Armenia has 25 credit organizations and 48 branches. ($1 = AMD 372.56).