Armenian banks allocate 198 billion drams in overdrafts in 3rd quarter, 28 percent less than in previous one

21.11.2013 16:54
Armenian banks allocate 198 billion drams in overdrafts in 3rd quarter, 28 percent less than in previous one

YEREVAN, November 21. / ARKA /. In the third quarter of 2013 Armenia-based commercial banks allocated 198.7 billion drams worth overdrafts, a decrease of 28% compared with the previous quarter, according to the banks’ interim financial statements for the III quarter of 2013, provided to ARKA.

The Russian-owned VTB Bank (Armenia) allocated 41.7 billion drams, more than any other bank. The amount, however, was 63.7% less than in the previous quarter. Overdrafts made 20.3 % of the total lending and other borrowings provided by the banks.

Ardshiinvestbank was second by size of provided overdrafts - 39.5 billion drams (a 6.4% growth from the previous quarter). It was followed by Armbusinessbank - 36.4 billion drams (38.4 % growth), Unibank - 24.6 billion drams (28.6 % decline) and Artsakhbank - 18.4 billion drams (3.7% decline).

There are 21 banks operating in Armenia with 484 branches. ($ 1 - 405.33 drams). -0-


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