Armenian banks’ lending to industrial sector grows 1.1% to 300.9bln drams in Q2

29.08.2013 15:04
Armenian banks’ lending to industrial sector grows 1.1% to 300.9bln drams in Q2

YEREVAN, August 29. /ARKA/. Armenian banks’ loans to industries rose by 1.1% to about 300.9 billion drams as of the end of June 2013, compared to the quarter before.

ARKA News Agency’s analysis based on banks’ interim financial reports shows a total of 1,677.1 billion was extended in loans and other borrowings in the period as compared to 1,646.6 billion drams in Q1.

The analysis by ARKA shows Ardshininvestbank was the largest creditor of this sector in the second quarter of this year. Its share in Armenian banking system’s total lending to industry was 15.7%. Loans to industrial companies were over 47.3 billion drams or more than 32.1% of the bank’s loan portfolio, as compared to 43.7bln drams at the end of the quarter before.

The other leaders in industry crediting were Areximbank – Gazprombank Group (about 36.4bln drams), AKBA-CREDIT AGRICOLE BANK (about 34.5bln drams), Bank VTB (Armenia) (about 28.4bln drams) and HSBC Bank Armenia (about 28.2bln drams).

The shares of these banks’ loans to industry in the overall loan portfolio were 37.4%, 20%, 14.6% and 20.3% respectively.

Armenia had 21 commercial banks with their 478 branches in late June 2013. ($1 = AMD 405.95).  –0--


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