Over Q1 2013 Armenian banks increased retail lending by 5.8% and cor

OVER Q1 2013 ARMENIAN BANKS INCREASED RETAIL LENDING BY 5.8% AND CORPORATE LENDING BY 0.5%

2013-05-16 14:35:00

ArmInfo. Over Q1 2013 the Armenian banks’ aggregate retail lending
was up 5.8% versus Q4 2012 and up 20% versus Q1 2012, having totaled
571.2 bln AMD ($1.4 bln) by 1 April. In addition, lending to related
parties and bank employees grew by 10% in Q1 2013 (up 46.8% versus
Q1 2012) to 70.3 bln AMD ($168 mln). Corporate lending grew by 0.5%
in Q1 2013 (up 20.5% versus Q1 2012) to 937 bln AMD ($2.2 bln). The
press service of the Central Bank of Armenia told ArmInfo that the
share of corporate loans in the banks’ loan book was up from 57% to
58%, and corporate loans – from 38% to 39% in Q1 2013. In Q1 2013 the
commercial banks’ investments in government securities dropped by 2.8%
(18.7% growth versus Q1 2012) to 176.2 bln AMD ($421 mln). The funds
on nostro accounts were up 50.3% in Q1 2013 (more than twofold growth
versus Q1 2012) to 124.4 bln AMD ($297.2 mln). Cash funds dropped by
1.9% (25.7% growth versus Q1 2012) to 97.2 bln AMD ($232.1 mln). In
Q1 2013 the aggregate assets of Armenia’s banking system grew by 3.7%
(up 26.2% versus Q1 2012) to $6.1 bln (2.6 trillion AMD). The source
says that the total liabilities of the banking system amounted to 2.2
trillion AMD ($5.2 bln) by 1 April 2013 (up 4.2% versus Q4 2012 and
up 29.3% versus Q1 2012). The aggregate total capital grew by 1.2%
(11.7% growth versus Q1 2012) to 405.4 bln AMD ($986.6 mln). As of 1
April 2013 there were 22 banks in Armenia (including the Pan-Armenian
Bank) and 476 branches (against 444 branches as of 1 April 2012 and
479 as of 1 January 2013).