YEREVAN, November 7. /ARKA/. Aggregate assets of Armenian banks grew by 4.3% up to 2.3bln drams in the third quarter against Q2, the Central Bank of Armenia (CBA) says in its quarterly review.

Total cash at bank grew by 12% up to about 92.5bln drams in the reporting period as compared with the quarter before.

Claims to banks and other financial organizations dropped by 0.4% in Q3 and were approximately 120bln drams by the end of September.

Banks’ claims to the Central Bank (including correspondent accounts) grew by 4% up to 215bln drams. Correspondent accounts in banks have also grown by 45.3% up to 101.3bln drams over the period.

Reserves for possible loss on assets were minus 37bln drams in Q3 against minus 34bln drams in Q2 of 2012.

According to CBA’s review, banks also enlarged lending for legal entities and individuals in Q3.
In particular, loans to legal entities grew by 2.4% to 881.3bln drams, and loans to individuals grew 1.5% to 509.8bln drams.

The loans extended to banks’ personnel and people related to banks dropped 2.2% to about 76.2bln drams by the end of September 2012.

According to the review, the banks’ total investments in government securities grew 6.2% to 155bln drams by the end of September. Investments in other securities grew 14.7% to 5.1bln drams.

Some 21 commercial banks with 465 branch offices operated in Armenia at the end of September 2012. ($1=407.30drams).  –0--