HSBC Bank Armenia leader by size of lending to trade in first quarter of 2011

25.05.2011 15:42
HSBC Bank Armenia leader by size of lending to trade in first quarter of 2011

YEREVAN, May 25. / ARKA /. HSBC Bank Armenia was the leading bank by size of lending to trade in the first quarter of 2011. According to an analysis made by ARKA based on Armenian commercial banks’ financial reports for the first quarter, HSBC Bank Armenia’s lending to trade companies rose by 9.7% from December 31, 2010 to 28.2 billion drams. This made 30.5% of the bank’s overall outstanding credit portfolio. HSBC Bank Armenia accounted for 13.9% of the combined lending to trade companies.

Other leader banks were Ameriabank with a total 23.5 billion drams lending to trade companies, ACBA-Credit Agricole Bank (20.7 billion drams), Unibank (16.5 billion drams) and Bank VTB (Armenia) - (about 13.7billion drams).

Overall lending to trade companies by banks rose by 6% in the first three months of this year to a total of

202.4 billion drams. In general, lending to various economy sectors in the first quarter of 2011 grew by 8.6% from the fourth quarter of 2011 to 997 billion drams. Presently there are 21 commercial banks in Armenia with 411 branches. ($1 – 375.62 drams). -0-


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