Thursday, November 8 2012 18:37

In Q3 2012 mortgage loan book of Armenian banks grew by 2.6%


ArmInfo. In Q3 2012 the mortgage loan book of Armenia's commercial banks grew by 2.6% to 124.2bln AMD or $305.6mln. As compared with Q3 2011 it grew by 20.8%.

According to ArmInfo's Ranking of Armenia's Commercial Banks, HSBC Bank Armenia, Armbusinessbank and VTB Bank (Armenia) have the biggest mortgage loan books - 14.4bln AMD, 13.8bln AMD and 13.4bln AMD, respectively, with the top five having as much as 53% of all mortgage loans in Armenia's banking system.

Mellat Bank recorded the highest growth in the index in Q3 2012 - 17%, ArmSwissbank the highest growth as compared with Q3 2011 - 62.1%. ProCredit Bank registered the biggest quarterly and annual drops - 9.7% and 31.6%, respectively.

All of the 21 Armenian banks are engaged in mortgage lending under governmental programs and projects by KfW, IFC and EBRD.
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