Sun, 27 July
28.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armenian banks lending to agriculture contracts by 10 percent in third quarter

YEREVAN, November 12. / ARKA /. Lending to agriculture by Armenian banks in the third quarter of 2012 contracted by 10.3 percent from the previous quarter, to about 84.8 billion drams, according to their interim financial statements for the third quarter.

The banks’ outstanding loan portfolio as of September 30 stood at more than 1.45 trillion drams, up from 1.44 trillion drams at the end of the previous quarter.

According to an ARKA analysis, the largest bank in terms of agricultural lending was ACBA-Credit Agricole Bank, which accounted for 46.8% of all lending to this sector. More than 25% or 39.7 billion drams in its outstanding loan portfolio were agricultural loans, down from.44.8 billion drams at the end of the previous quarter.

Other leaders in terms of agricultural lending were Ardshininvestbank (about 7.3 billion drams), Armbusinessbank (about 4.3 billion drams), ProCredit Bank (about 3. 9 billion drams), Armeconombank (more than 3.7 billion drams) and VTB Bank (Armenia) (about 3.6 billion drams).
– 6%, 3.6%, 13.4%, 12.8% and 2.6% respectively of their loan portfolios. ($ 1 – 408.91 drams). -0-

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Armenia and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

LATEST NEWS

spot_imgspot_imgspot_img