YEREVAN, May 21. /ARKA/. Armenian banks’ loan loss reserves in the first quarter of 2018 amounted to 140.8 billion drams, an increase of 37% or 38.1 billion drams when compared to the same period last year, according to ARKA news agency’s quarterly bulletin ‘Banks of Armenia" for the first quarter of 2018.

From the beginning of the year the amount of reserves grew by 3.8 billion drams or by 2.8%. The share of reserves in the credit portfolio of the banks increased from 5.18% to 5.23%. The to five banks by size of loan loss reserves were Unibank, VTB Bank (Armenia), Ameriabank, ACBA-CREDIT AGRICOLE BANK and HSBC Bank Armenia.

Unibank's reserves at the end of the first quarter amounted to 33.1 billion drams, an increase of 1.63% from the beginning of the year, making 23.36% of its loan portfolio. The loan loss reserves of VTB Bank (Armenia) totaled 30.7 billion drams (down 2.9%). They made 23.15% of its lending portfolio.

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The Asian Development Bank (ADB) and Ameriabank CJSC (AMB) signed an agreement for an equity investment equivalent of $30 million to strengthen Armenia’s banking sector and further promote financial inclusion in the country

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Payments on VTB Bank (Armenia) loans, scheduled for May 2 to May 31, inclusive, can be made until May 31, 2018, the bank’s press service reported

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VTB Bank (Armenia) is launching the last in 2017 campaign offering gold-secured loans, the press office of the bank reported on Thursday

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The Central Bank of Armenia and the German bank KfW have signed a loan agreement today to the tune of 15 million euros. The funds will be used to finance the implementation of energy saving projects by micro, small and medium-sized businesses, the Central Bank said

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The Armenian parliament has ratified today a loan agreement with the Asian Development Bank to the tune of $40 million

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The Eurasian Fund for Stabilization and Development (EFSD), run by the Eurasian Development Bank, approved the release of the third tranche of a financial loan to Armenia in the amount of $ 100 million

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The Asian Development Bank (ADB) is providing $6 million in loans and $200,000 in technical assistance grants to FINCA, one of the leading credit organizations in the country

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VTB Bank (Armenia) said it has designed a new product, called Super Card, which offers a credit line with zero annual interest rate. The client pays only a monthly loan servicing fee (1.4% of the credit limit)

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Armenia will receive a €80-million budget-supporting loan from Germany’s KfW Bank, Vardan Aramyan, Armenian finance minister, said Thursday at a regular cabinet meeting

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