YEREVAN, December 18, /ARKA/. In the first nine months of 2009 Armenian banks channeled a total of 117.7 billion Drams as investments in industry. The volume of credits to this sector grew by 34.8% from a year before, according to the banks’ interim statements for Q3.

According to their interim statements for Q3, their overall credit investments in economy at the end of September 30, 2009 rose to 677.7 billion Drams from 637.2 billion Drams on December 31, 2008.

The leading bank, in terms of credits made available to industry, was Bank VTB Armenia that accounted for 14.1% (16.6 billion Drams) of all credits extended to industry. Overall, 24% of its credits were channeled to industry.

Second was Ardshininvestbank (15.3 billion Drams), followed by Ameriabank (14.2 billion Drams), Unibank (11.2 billion Drams) and HSBC Bank Armenia (11 billion Drams). There are 22 commercial banks in Armenia with 365 branches. ($1 – 377.91 Drams). -0-