YEREVAN. – As of the end of the first quarter of 2012, Armenian commercial banks and credit organizations owe $870.7 million to the foreigners, the report of Armenia’s Central Bank states.

During this period, commercial banks and credit organizations in Armenia have attracted external credit facilities totaling to $467.8 million. 14.6 percent of credits were in the form of long-term loans, 59.7 percent of credits were received from Russia, 18.6 percent - from international organizations.

The major creditor nation for Armenian commercial banks and credit organizations was Russia, whose share in total actives was 12.2 percent.