Tuesday, March 27 2012 22:20

Byblos Bank Armenia intends to increase its credit portfolio by 45% and assets - by 30% in 2012


ArmInfo. Byblos Bank Armenia intends to increase its credit portfolio by 45% and assets - by 30% in 2012, Head of the Administrative and Financial Department of Byblos Bank Armenia, Hayk Stepanyan, told ArmInfo. He said that the Bank is going to increase lending to small and medium enterprises (SME) by 50%. At the moment, the share of SME in the credit portfolio of the Bank does not exceed 20%.

Stepanyan recalled that in March 2010 Byblos Bank Armenia received a 10mln USD synthetic loan from the EBRD. Most part of these funds has already been distributed among the medium enterprises of various sectors of economy. He added that in 2012 the EFSE opened a 3.9mln EUR credit line for Byblos Bank Armenia, and the Bank is going to on-lend these funds to SMEs of Armenia.

To note, the shareholders of Byblos Bank Armenia are Byblos Bank SAL (65%), EBRD (25%) and OFID (10%). According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 Jan 2012 the total capital of the Bank amounted to $23.3 mln, assets - $98 mln, provision of crediting - $52.2 mln, net profit - $756.5 thsd.
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