The share of debt of individuals in credit portfolio of the Armenian banks in the third quarter was 30.7%

YEREVAN, November 23. /ARKA/. The share of loan debts of physical entities in credit portfolio of the Armenian banks in the third quarter of 2011 was 30.7%.

According to the data of financial progress reports for the third quarter of 2011, credits provided to the clients and other borrowings were about 1 159.1 billion drams as of September 30, 2011, and crediting of individuals – over 356 billion drams (vs. 1088.9 billion drams and 342.4 billion drams at the beginning of the quarter) respectively.

Analysis of ARKA News Agency showed that the leader in the crediting market by crediting of individuals at the end of September remains AGBA-Credit Agricole Bank, the share of which in total crediting volume of the banking system is 18.9%. In total credit portfolio of AGBA-Credit Agricole Bank 50.1% or 67.4 billion drams goes to crediting of individuals.

Among the leaders by crediting of individuals are Bank VTB (Armenia) (over 44 billion drams), Ardshininvestbank (28.2 billion drams), Conversebank – (about 26 billion drams) and Unibank – (24.3 billion drams). Weighted average of crediting of individuals by these banks in total credit portfolio of the banks was 39.5% , 33.7% and 56.7% and 30.6% respectively.

As of September 30, 2011 there were 21 banks operating in Armenia. ($1 – 384.34 drams). -0-

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