Thursday, November 21 2013 17:34

In Q3 2013 mortgage loan portfolio of Armenia's banks grew by 4.1% to $343mln


ArmInfo. In Q3 2013 the mortgage loan portfolio of Armenia's banks grew by 4.1% to 139bln AMD ($343mln) or 8.2% of all loans. As compared with Q3 2012 it grew by 14.9%.

According to the Financial Rating of Banks of Armenia, prepared by the Agency of Rating Marketing Information (ArmInfo), VTB Bank (Armenia) had the biggest mortgage loan book (15.6bln AMD) as of Sept 30 2013. Converse Bank was the 2nd with 14.6bln AMD, Unibank was the 3rd with 14.5bln AMD, HSBC Bank Armenia was the 4th with 13.7bln AMD. Armbusinessbank has fallen from the 2nd rank in Q2 2013 to the 5th rank in Q3 2013. The top five have 51% of all mortgage loans in Armenia's banking sector.

Ardshininvestbank registered the biggest quarterly growth in the index (22.5%, up from the 11th to 9th rank), while Areximbank-Gazprombank Group recorded the biggest annual growth (67.1%, up from the 17th to 13th rank). Five banks registered annual drop in the index, with six banks recording quarterly drop.
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