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-
