Armenia’s 21 commercial banks’ overall lending to private enterprises in Q3 2014 surged to over AMD1,000bn ($2.4bn), a 18.5% increase from the same period of last year, according to news agency ARKA’s quarterly bulletin Banks of Armenia.
The overall lending in Q3 2014 stood at more than AMN1,900bn ($4.5bn) up from AMD1,700bn ($4bn) in Q3 2013. Private enterprises accounted for 56.6% of the total loan portfolio of the banks.
Ameriabank, Armenia’s first investment bank and largest by total assets, is the leading bank by total loans to private enterprises with AMD165.3bn, 82.1% of its total lending. Ameriabank accounted for 15% of the total lending to private enterprises.
Ameriabank was followed by HSBC Bank Armenia with AMD146.6bn or 86.3% of its total lending; VTB Bank Armenia with AMD117.9bn or 52.7% of its total lending; Ardshininvestbank with AMD109.7bn or 66.7% of its total lending, and Armbusinessbank with AMD106.2bn or 71.2% of its total lending.
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