Tue, 5 August
40.1 C
Yerevan
USD: 383.84 RUB: 4.70 EUR: 442.91 GEL: 141.90 GBP: 512.96

Trade lending by Armenia’s banks drops by 1.5% to AMD 346.9 bln in Q2

YEREVAN, August 30. /ARKA/. Trade lending by Armenia’s commercial banks shrank by 1.5% to about 346.9 billion drams as of the end of June 2013, compared to the quarter before.

According to interim financial reports released by the banks, loans and other borrowings stood at over 1,677.1 billion drams as of the end of June compared to 1,646.6 billion drams in the first quarter.

An analysis by ARKA showed Bank VTB (Armenia) is the leader in trade lending: its trade loans accounted for 11.9% of the total trade lending by banks and were more than 41.6 billion drams (35.7bln drams at the end of Q1) or over 21.4% of the bank’s loan portfolio.

Among other leaders were HSBC Bank Armenia (about 40.5bln drams), Ameriabank (about 32.2bln drams), Inecobank (about 30.7bln drams) and Araratbank (about 26.3bln drams).

Trade lending accounted for 29.1%, 19.2%, 38.9% and 44.9% of these banks’ credit portfolios respectively.

As of the end of June there were 21 banks with 478 branches in Armenia. ($1=405.91drams).–0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

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.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

Armenia’s state budget had a deficit of 39.2 billion drams in the first half of the year, according to the Finance Ministry.

The Armenian government’s budget for the first half of the year was executed with a deficit of 39.2 billion drams, which is significantly lower than the projected deficit of 325.3 billion drams, according to a statement released by the Ministry of Finance today.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img