YEREVAN, August 28. /ARKA/. Armenian banks’ lending to state-funded enterprises grew by 2.9% to about 74.5 billion drams in the second quarter of 2013.

According to banks’ interim financial reports for Q2, loans and other borrowings amounted to a total of 1,677.1 billion drams as of the end of June 2013, compared to 1,646.6 billion drams in the first quarter.

In fact, lending to state-funded enterprises constituted 4.45% of overall loan portfolio of the banks.
An analysis by ARKA Agency showed Areximbank – Gazprombank Group was the leader in lending to private companies as of the end of June: it accounted for 27.5% of the overall segment. Loans to state enterprises were 20.5 billion drams or 13.81% of the overall loans portfolio of Areximbank – Gazprombank Group.

Among other leaders in private sector crediting were Ardshinivestbank (20.4bln drams), Bank VTB (Armenia) (14.2bln drams), Artsakhbank (8.7bln drams) and Armenian Development Bank (3.9bln drams). The share of loans extended by these banks to private companies were 13.81%, 7.13%, 13.80% and 10.22% of their portfolios respectively.

There were 21 commercial banks with 478 branches operating in Armenia at the end of June 2013. ($ 1 – 405.94 drams).–0--