Lending to construction Shrinks 5.1% to AMD 98.6 billion in Armenian banks’ outstanding loan portfolio

14.11.2012 19:51
Lending to construction Shrinks 5.1% to AMD 98.6 billion in Armenian banks’ outstanding loan portfolio

YEREVAN, November 14. / ARKA /. Lending to construction companies in Armenian banks’ aggregate outstanding loan portfolio shrank 5.1% in the third quarter, compared with the previous quarter, to AMD 98.6 billion.

According to banks’ quarterly reports, outstanding loans extended to the economy totaled over AMD 1.45 trillion in late September against AMD 1.44 trillion in late June.

ARKA News Agency’s analysis shows that Armbusinessbank was the largest lender to the construction sector in the third quarter. The bank-extended loans made up 14.6% in the aggregate outstanding loans extended by all banks to construction companies.

Armbusinessbank’s lending to construction sector amounted to about AMD 14.4 billion in late September against AMD 16.2 billion in late June and made up more than 12% of the bank’s loan portfolio.

HSBС Bank Armenia, with its about AMD 12.5 billion and 9.4% and Ameriabank with more than AMD 10.8 billion and 6.9% came second and third in ARKA News Agency’s ranking.
Twenty one commercial banks with their 458 branches functioned in Armenia in late September. ($1 – 409.47 drams). - -0---


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