YEREVAN, November 22. /ARKA/. Trade lending by Armenia’s commercial banks rose by 4.9% to about 364.1 billion drams as of the end of September 2013, compared to the quarter before.
According to interim financial reports released by the banks, loans and other borrowings stood at over 1,692.5 billion drams as of the end of September compared to 1,660.8 billion drams in the second quarter.
An analysis by ARKA showed Bank VTB (Armenia) is the leader in trade lending: its trade loans accounted for 11.3% of the total trade lending by banks and were more than 41.4 billion drams (41.4bln drams at the end of Q2) or over 20.3% of the bank’s loan portfolio.
Among other leaders were HSBC Bank Armenia (about 39.6bln drams), Ameriabank (about 34.8bln drams), Ardshininvestbank (about 31.1bln drams) and Inecobank (about 28.7bln drams).
Trade lending accounted for 29.6%, 20.1%, 19.3% and 36.7% of these banks’ credit portfolios respectively.
As of the end of September there were 21 banks with 484 branches in Armenia. ($1=404.94drams). –0—
