YEREVAN, February 4 / ARKA /. In 2019, the overall loan portfolio of Armenia’s banking sector grew by 16.4% to 3.572.2 trillion drams.
According to a ranking, compiled by the ARKA news agency, as of December 31, 2019, Ameriabank was the leading bank by size of lending that stood at 585.7 billion drams (an increase of 6.9% from the previous year).
Armbusinessbank was second with a loan portfolio of 567.5 billion drams (an increase of 29.5%).
Ardshinbank was third with 467.4 billion drams (2.3% increase). It was followed by ACBA-CREDIT AGRICOLE BANK – 296.6 billion drams (an increase of 34.9%). Inecobank was fifth with 238.6 billion drams (an increase of 15.6%).
It was followed by Converse Bank – 226.7 billion drams (an increase of 15.5%); VTB Bank (Armenia) – 189.6 billion drams (an increase of 10.6%); Armeconombank- 176.2 billion drams (an increase of 31.9%); Unibank – 141.8 billion drams (an increase of 5.6%) and Araratbank – 135.9 billion drams (an increase of 13.3%).
The ranking was compiled based on ARKA news agency’s quarterly bulletin Banks of Armenia, which is based in turn on the banks’ statements published in accordance with international IFRS standards.
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