YEREVAN, May 24. /ARKA/. Armenian banks’ outstanding loans to the industry sector totaled AMD 219.7 billion in late March 2011 after growing 10.6% over the first quarter.

ARKA News Agency’s analysis based on banks’ quarterly reports shows that Ameriabank was the largest creditor of this sector in the first quarter of this year. Its share in Armenian banking system’s total lending to industry was 18.3%. Outstanding loans to industrial companies constituted 38.2% of the bank’s loan portfolio and amounted to AMD 40.1 billion in late March 2011 against AMD 36.1 billion in late December 2010.

Ardshininvestbank, with its AMD 27.8 billion lent to the industry sector, was the second biggest creditor of industrial companies in the 1^st Q 2011.

Areximbank – Gazprombank Group, with its AMD 23.8 billion, came third in ARKA News Agency’s ranking. HSBC Bank Armenia (AMD 22 billion) ranked fourth and VTB bank (Armenia) (AMD 19.3 billion) fifth.

Outstanding loans to industrial companies made up 35.3%, 42.9%, 23.7% and 20% of the mentioned companies’ credit portfolios respectively.

Outstanding loans to the economy in Armenian banks’ aggregate credit portfolio totaled AMD 997 billion in late March against AMD 918.4 billion in late Dec 2010.

Armenia had 31 commercial banks with their 411 branches in late March 2011. ($1 = AMD 374.76). -0-