Armenian banks’ lending to private companies up by 18.5% in Q3

By bne IntelliNews November 18, 2014

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.

Related Articles

Utility infamous for “Electric Yerevan” price protests lent $50mn by HSBC Armenia

The Armenian branch of HSBC on October 4 announced that it will lend $50mn to Electric Networks of Armenia (ENA), under new ownership following the ... more

Armenia may declare protocols on normalising relations with Turkey “null and void” UN told

Addressing the UN General Assembly, Armenian President Serzh Sarkisian on September 19 warned that Yerevan may be set to declare two protocols aimed at normalising relations with Turkey "null and ... more

Yerevan grants tycoon management of power transmission network

Tashir Group, a large business conglomerate owned by Russian-Armenian businessman Samvel Karapetyan, received approval from the Armenian government on August 24 to take over the management of the ... more