Tuesday, February 25 2014 13:28

Armenian banks speed up SME finance rates


ArmInfo. SME finance portfolio of Armenian banks totaled 538.5 bln drams ($1.3 bln) as of Jan 1 2014 or 29% of total credit exposures. This indicator grew 18.5% for 2013 and 10.8% for Q4 2013 versus 1.8% in Q3 and 0.3% in Q2. Nine banks are continuously decreasing SME financing.

By data of the Analysis and Finance Rating of Armenian Banks prepared by ArmInfo News Agency, Ardshininvestbank ensured the highest quarterly growth of SME finance - over twofold (up from the 13th to the 9th position). Converse Bank ensured the highest growth for 2013 - nearly twofold (up from the 18th to the 16th position). This indicator of Byblos Bank Armenia suffered decline for both 2013 and Q4 2013 - 22%-35% (retention of the 21st position).

Top three banks by SME finance are VTB Bank (Armenia), Armbusinessbank and ACBA-Credit Agricole Bank - over 33% of total investments of banks in SME sector. ProCredit Bank specializing in this segment has concentrated 83% of its loan portfolio on SME finance. Then goes Mellat Bank with 53% and Armbusinessbank with 47%.
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