Crediting of agriculture by the Armenian banks increased by 31.8% to 71.1 billion drams in the second quarter of 2011

Banks

YEREVAN, November 14. /ARKA/. Volume of crediting of agricultural sector by the Armenian banks increased by 31.8% making over 71.1 billion drams in the 2nd quarter of 2011 compared to the same period of 2010.

According to the data of financial progress report for the third quarter of 2011, the volume of the provided credits in the economy of the country was about 1.2 trillion drams vs. 918.4 billion drams as of September 30, 2011 compared to the beginning of 2011.

According to the analysis of ARKA News Agency, the leader in the banking system on crediting of agriculture in the reporting period was AGBA CREDIT AGRICOLE BANK whose share in the total volume of crediting of the given sector was 47.8%. In total credit portfolio of AGBA CREDIT AGRICOLE BANK about 25.2% or 34.1 billion drams makes crediting of agricultural sector (27.2 billion drams for the beginning of the year).

The leader banks by the given indicator are also Ardshininvestbank (over 5.8 billion drams), Armbusinessbank (over 4.9 billion drams), HSBC Bank Armenia (over 4.4 billion drams) and Armeconombank (over 4.3 billion drams). Weighted average of the given indicator in total credit portfolio of these banks was 7.1%, 4.9%, 4.3% and 14.6% respectively.

As of September 30, 2011 in Armenia 21 commercial banks were registered. ($1 – 384.09 drams). -0-

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