YEREVAN, November 21. / ARKA /. In the third quarter of 2013 Armenia-based commercial banks allocated 198.7 billion drams worth overdrafts, a decrease of 28% compared with the previous quarter, according to the banks’ interim financial statements for the III quarter of 2013, provided to ARKA.
The Russian-owned VTB Bank (Armenia) allocated 41.7 billion drams, more than any other bank. The amount, however, was 63.7% less than in the previous quarter. Overdrafts made 20.3 % of the total lending and other borrowings provided by the banks.
Ardshiinvestbank was second by size of provided overdrafts – 39.5 billion drams (a 6.4% growth from the previous quarter). It was followed by Armbusinessbank – 36.4 billion drams (38.4 % growth), Unibank – 24.6 billion drams (28.6 % decline) and Artsakhbank – 18.4 billion drams (3.7% decline).
There are 21 banks operating in Armenia with 484 branches. ($ 1 – 405.33 drams). -0-
