Friday, August 5 2011 14:18
Head of ACBA-Credit Agricole Bank: Financing of investment projects in Armenia by commercial banks is poorly developed
ArmInfo. The financing of investment projects in Armenia by the commercial banks is poorly developed, Director General of ACBA-Credit Agricole Bank, Stepan Gishyan, told ArmInfo.
"I think the banks should pay more attention to the potential of the investment activity financing and replenish the spectrum of services with new, developing tools", he said. He thinks that the efforts for activation of this sphere should not harm the other types of crediting, including the consumer crediting. "To finance investment projects, the banks can always find additional resources, but the question is how much ready they are for that in terms of assessment of risks and approaches", Gishyan said.
As regards the situation in ACBA-Credit Agricole Bank, he pointed out that the bank has certain tools and finances investment projects, though this does not happen regularly.
"We have already financed some projects in the sphere of energy, including renewable energy, and now we are working out new mechanisms and are expecting further activation in this segment", he said.
According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 April 2011 ACBA-Credit Agricole Bank was in the lead by its credit portfolio (111.2 bln AMD). The share of industry in the credit portfolio made up 13%, agriculture - 27.8%, trade - 19.1%, consumer loans - 24%.
To note, as the global economic crisis is being overcome, the Armenian commercial banks are trying to considerably diversify their credit portfolios, even the banks, which specialized in financing limited spheres of economy within the pre-crisis period.
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