YEREVAN, 12 August. /ARKA/. In the first six months of 2016 the combined portfolio of Armenia-based commercial banks grew by almost 17% to 310.5 billion drams, according to the latest issue of ARKA news agency’s quarterly bulletin “Banks of Armenia" (Armenian banks’ performance for the second quarter 2016).

These banks' investments in securities made 8.88% in their total assets, while about 93% of the investments in securities- 287.8 billion drams- were in government bonds.

The top five banks by size of investments in securities were Armswissbank, Ameriabank, VTB Bank (Armenia), Armbusinessbank and HSBC Bank Armenia. They accounted for 44.5% of all investments in securities or 138.5 billion drams.

Armswissbank’s investments in securities at the end of June made 38.87% of its total assets, or 33.9 billion drams, an 11.5% rise from the beginning of the year. Apart from providing so-called traditional banking services, Armswissbank also provides investment services and often acts as a market-maker of underwriter.

Ameriabank’s investments during this period amounted to 33.6 billion drams (a 12.9% growth), those of VTB Bank (Armenia) grew by 26.2% to 25.5 billion drams, Armbusinessbank’s investments upped by 6.4% to  24.7 billion drams and those of  HSBC Bank Armenia soared by 43.3% to 20.5 billion drams.

The combined assets of 20 Armenia-based commercial banks’ at the end of June 2016 stood at about 3.5 trillion drams, growing by 0.6% from the beginning of the year. ($1 – 476.25 drams). —0-