YEREVAN, November 22. /ARKA/. Armenian banks’ lending to agricultural sector dropped by 2.1% in the third quarter of 2013 to a total of 105.7 billion drams as of the end of September, according to interim financial reports of the banks for the third quarter.
The overall lending to clients stood at 1,702.3 billion drams as of September 30, 2013 from 1,677.1 billion drams at the end of Q2.
According to an analysis by ARKA, ACBA-CCREDIT AGRICOLE BANK was the leader in lending to agriculture in the period. It accounted for 49.1% of the overall lending to this sector with an outstanding credit portfolio of 51.9 billion drams which constituted 31% of its total lending (54 billion drams at the end of Q2).
Among the leaders in lending are also Bank VTB (Armenia) (about 8bln drams), Ardshininvestbank (about 7.6bln drams), Areximbank- Gazprombank Group (about 6.6bln drams) and ProCredit Bank (about 5.3bln drams).
The share of agricultural loans in overall lending of these banks was 3.9%, 4.7%, 6.6% and 13.7% respectively.
There were 21 banks with 484 branches operating in Armenia as of the end of September 2013. ($1=404.94drams). –0–
