SUMMARY PORTFOLIO OF HYPOTHEC CREDIT OF ARMENIA’S COMMERCIAL BANKS GREW ABOUT TWICE OVER 9 MONTHS TO 137 MLN BY OCTOBER 1, 2007

arminfo
2007-11-06 12:05:00

ArmInfo. The summary portfolio of hypothec credits of Armenia’s
commercial banks, as of September 30, 2007, made up 46 bln drams
($136.9 mln) or 12,5% of the total provision of crediting, having
increased 2,3 times per annum, and about twice over the first 9 months.

According to RA commercial bank’s Ranking data, prepared by the Agency
of Rating Marketing Information (ARMINFO), the greatest volume of
hypothec credits has been fixed with ‘HSBC Bank Armenia’ – 16.2 bln
drams ($48.2 mln), the second place is taken by Unibank (9.4 bln drams
or $28.1 mln), the third place – by ‘VTB Armenia’ (3 bln drams or $8.9
mln), the fourth place – by Armeconombank (2.3 bln drams or $6.9 mln)
and the fifth place – by INECOBANK (2.1 bln drams or $6.1 mln).

As of late September, 2007, all the commercial banks of Armenia work
in the hypothec crediting market. The Unibank assured the greatest
annual growth of this indicator – 3,5 times and the ‘Converse Bank’
assured a 9-month growth – 3,3 times.