YEREVAN, February 24, /ARKA/. The share of individual loans in Armenian banks’ combined outstanding credit portfolios at the end of 2010 was 32.3%, according to an analysis made by ARKA based on the banks’ financial reports for Q4, 2010.
The combined credit portfolios of the banks at the end of last year rose to 922.5 billion Drams (some 298 billion Drams were loans to individual borrowers) from 854 billion Drams at the end of the previous quarter.
The leading bank by size of individual lending was ACBA Credit Agricole Bank that accounted for 17.9% of all loans to individuals. Overall, 54% of its outstanding credit portfolio or 53.9 billion Drams were extended to individual customers, up from 49.5 billion Drams at the end of the third quarter last year.
Other leading banks were Bank VTB (Armenia) – 31.3 billion Drams, Unibank – 26.8 billion Drams, Conversebank -24.3 billion Drams and Ardshininvestbank- 21.7 billion Drams. There are presently 21 banks in Armenia which operate 407 branches. ($1 – 364.82 Drams). -0-
