YEREVAN, February 22, /ARKA/. Armenian banks’ lending to domestic industry increased 18% in the fourth quarter of 2010 to a total of 198.8 billion Drams, according to the banks’ financial reports for Q4, 2010. The overall lending to Armenian economy rose last year to 918.4 billion Drams from 849.1 billion Drams as of September 30, 2010.
According to an analysis made by ARKA news agency, the leading bank in terms of lending to industry was Ameriabank that accounted for 18% of all loans channeled into industrial sector last year. About 40% of its loans, or 36.1 billion Drams, were extended to industry. The figure rose from 31.9 billion Drams as of September 30, 2010.
Other leaders were Ardshininvestbank with 25.6 billion Drams investments in the industry, Unibank -23.7 billion Drams,
HSBC Bank Armenia -18.7 billion Drams and ACBA Credit Agricole Bank- 11.6 billion Drams. There are 21 commercial banks in Armenia which operate 407 branches. ($1 – 365.22 Drams). M.M. -0-
