YEREVAN, May 20. /ARKA/. Armenian banks’ lending to private companies grew by 11.3% in the first quarter of this year to AMD 604.8 billion.

According to banks’ quarterly financial reports, their aggregate outstanding loan portfolio totaled AMD 1003.7 billion in late March 2011 against AMD 922.4 billion in late December 2010.

Lending to private companies made up 60.25% of Armenian banks’ aggregate outstanding loans in late March.

ARKA News Agency’s analysis shows that Ameriabank was the biggest creditor of private companies in late March. Its share in the Armenian banking system’s credit portfolio was 14.7%.

Outstanding loans extended to private businesses amounted to AMD 88.9 billion and constituted 84.53% of Ameriabank’s credit portfolio in late March.

HSBC Bank Armenia, with its AMD 70.8 billion lent to private companies, Armbusinessbank, with AMD 67.6 billion, VTB Bank (Armenia), with AMD 52.7 billion, and Ardshininvestbank (AMD 46.4 billion) have been singled out in ARKA News Agency’s ranking as biggest creditors of private businesses. Outstanding loans to private companies made up 76.96%, 74.87%, 63.99% and 58.91% of their credit portfolios respectively.

Some banks have also released information about distribution of loans among small, mid-scale and large businesses.

Ameribank’s has lent AMD 80.6 billion to large businesses and AMD 8.3 billion to small and medium companies.

HSBC Bank Armenia has lent AMD 46.9 billion to large and AMD 23.9 billion to small and medium companies.

Armbusinessbank’s figures are AMD 25.8 billion and AMD 41.8 billion respectively.

Armenia had 21 commercial banks with their 411 branches in late March. ($1 = AMD 374.62). -0-