Friday, November 8 2013 12:20

Armenian banks continue reducing retail lending


Yerevan. In Q3 2013 the corporate loans of Armenia's banks grew 1.9% to 955.8bln AMD or $2.4bln. As compared with Q3 2012 they grew by 8.4%. During the same periods the retail loans grew by 2% and 19.4%, respectively, to 608.6bln AMD or $1.5mln. As a result, the share of corporate loans in the banks' lending portfolio grew from 56% to 56.1%, while that of retail credits dropped from 40% to 39.7%.

The investments in securities grew by 7.7% in Q3 2013 and 29.5% against Q3 2012 to 201.3bln AMD or $496.7mln, the funds on nostro accounts dropped by 13.1% and grew by 45.3%, respectively, to 129.9bln AMD or $320.4mln, the cash grew by 4.2% and 6.3%, respectively, to 98.3bln AMD or $242.6mln, the liabilities to the Central Bank grew by 12..8% and 44.4%, respectively, to 310.4bln AMD or $765.9mln.

As of Oct 1 2013 there were 22 banks with 481 branches in Armenia.
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UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
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