Armenian banks’ lending to private sector grows by 0.2% in quarter one

13.05.2016 17:43
Armenian banks’ lending to private sector grows by 0.2% in quarter one

YEREVAN, May 13. /ARKA/. In the first quarter of 2016 lending to private companies by Armenia-based banks grew by 0.2% from the beginning of the year to 1.346.6 trillion drams, according to ARKA news agency’s financial and economic bulletin "Banks of Armenia" for the first quarter of 2016.

The top five banks by size of lending to private companies were Ameriabank, Ardshinbank, HSBC Bank Armenia, Armbusinessbank and VTB Bank (Armenia), which accounted for 65.8% or 885.5 billion drams of the total lending to this sector of economy.

With 274.9 billion drams Ameriabank accounted for 20.4% of the total lending to private companies, a 4.1% rise from the beginning of the year.

Ardshinbank’s  lending totaled 221.6 billion drams, a growth of 12.5%;  HSBC Bank Armenia’s lending declined by 1.2% to  142.3 billion drams;  Armbusinessbank’s lending stood at 139.7 billion drams, a growth of  1.3% and that of  VTB Bank (Armenia) fell by 3.9% to 107.1 billion drams.

According to ARKA, the amount of lending to individuals in the reporting period amounted to 738.6 billion. drams against 733.3 billion drams on January 1, 2016. At the same time, the total volume of loans granted by Armenian banks were worth 2.171.9 trillion drams, having decreased by 0.5%. ($ 1 - 479.45 drams). -0-


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