Armenian banks’ loans to individuals hike 22% in 2013

21.02.2014 16:12
Armenian banks’ loans to individuals hike 22% in 2013

YEREVAN, February 21. /ARKA/. Armenian commercial banks’ loans to individuals rose by 22% to 601.5 billion drams in 2013, with share of these lending receivables at 33.6% in loan portfolio of banks in 2013.

Loans to clients and other lending amounted to about 1,787.9 billion drams, according to interim financial reports of the banks for Q4 2013.

An analysis by ARKA showed ACBA-CREDIT AGRICOLE BANK was leader in lending to individuals as of the end of 2013 with its share in overall volume at 16.8%. Loans to individuals accounted for 58.6% of the overall lending by the bank and amounted to about 101.3 billion drams.

Other leaders are Bank VTB (Armenia) - over 86.6bln drams, Unibank – 51.2bln drams, Ardshininvestbank – about 51bln drams and Conversebank - over 44bln drams. Share of loans to individuals in overall lending by these banks was 37%, 44.6%, 29.8% and 52.9% respectively.

There were 21 commercial banks operating in Armenia as of the end of December 2013. ($1=412.44drams). --0—


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