YEREVAN, October 23. /ARKA/. Credit investments of Armenia’s commercial banks have shrunk 4.3% since the beginning of this year to AMD 2 074.1 billion by the end of the third quarter, according to a fresh issue of ARKA News Agency’s ‘Banks of Armenia’ Bulletin.
Eighteen of Armenia’s 21 commercial banks reduced their lending in the third quarter, compare with the beginning of this year.
Ameriabank, with its AMD 299.4 billion, was the largest lender among the country’s commercial banks in the third quarter – its credit investments reduced 0.3% in the third quarter.
Ardshinbank, the second biggest creditor in the third quarter, built up its loan portfolio 11.1% to AMD 244.2 billion.
Armbusinessbank came third in ARKA ranking – its credit investments shrank 2.9% to AMD 190.5 billion.
VTB Bank (Armenia) ranked fourth with its AMD 185.7 billion reduced 20.7% since the beginning of this year.
The fifth flagship creditor in ARKA ranking is HSBC Bank Armenia with its AMD 185.4 billion and 0.5% decline.
Armenian banks aggregate assets have shrunk 2.1% over nine months of this year since the beginning of this year to AMD 3 318.3 billion and liabilities 3.6% to AMD 2 807 billion, while their total capital has grown 7.2% to AMD 511.3 billion. Their net profits contracted by 53.3% to AMD 13.1 billion.
It should be mentioned that decline in banking indicators mostly came in the first quarter, when impacts from the Armenian dram devaluation still were strong.
As a whole, profitability and other general banking indicators are impacted by economic situation in the country, by tightening some norms by the regulator and by risks at financial market. —-0—
