Loan portfolio of Armenian banking sector 2019-2020

26.02.2021 | 11:54 Home / News / Articles /
#RUMELS Management Solutions #banks #loan

We are presenting to your attention the loan portfolio analysis of Armenian banking sector, prepared and published exclusively on Banks.am by a specialized consulting company RUMELS Management Solutions.

RUMELS Management Solutions is a specialized consulting company. The company was founded by Ruben Melikyan in 2013. For the past 15 years Ruben Melikyan occupied responsible management positions in companies operating in different spheres, thus gaining experience in various sectors of economy such as internal and external audit, retail and wholesale trade, mining industry and banking system.  Ruben Melikyan is a full member of ACCA and an Oxford University graduate (Executive MBA).




The purpose of this article is to analyze the loan portfolio of Armenian banking sector for 2019 and 2020, by banks and by business lines (corporate and retail). Also, a mortgage loan portfolio was analyzed. While reviewing the quality of loan portfolios, dynamics of loan loss allowances were analyzed. Total loan portfolio is the analysis based on book (net) values (included loan loss allowances). Corporate, retail and mortgage loan portfolio analysis are presented based on gross values (excluded loan loss allowances). Corporate loan portfolio includes factoring and finance lease.

- Total loan portfolio of banking sector was increased in 2020, by AMD 489B, or 13.7%.

- As of 31.12.2020, total loan portfolio was amounting to AMD 4.053B and its share in total assets was 61%.


- As of 31.12.2020, total loan portfolio structure of Armenian banking sector was the following: 62.1% iscorporate loan portfolio and 37.9% is retail loan portfolio.

- The following banks had the lowest retail loan portfolio share (%) in total loan portfolio: Armbusinessbank -16%, Armswissbank - 16%, Artsakhbank - 17%, HSBC Bank Armenia - 21% and Ameriabank - 27%.

- The highest share of retail loan portfolio in total loan portfolio was with VTB Bank (Armenia) - 81%.


- Mortgage loan portfolio of banking sector increased in 2020 by AMD 125B or 33.8%.

- As of 31.12.2020, mortgage loan portfolio was amounting to AMD 494B and its share in retail loan portfolio was 31%.

- The following banks recorded the largest relative (%) increase of mortgage loan portfolio in 2020: Mellat Bank - 61%, Armbusinessbank - 59% and VTB Bank (Armenia) - 53%.


- Market share of the largest 5 banks (Ameriabank, Ardshinbank, Converse Bank, ACBA Bank and Inecobank) by mortgage loan portfolio was 57.5%.

- Ameriabank has the largest market share - 23.7%.


Full version of the analysis of the loan portfolio of Armenian banking system in 2019-2020 is available on this link.

Full version of the analysis of the profitability level of Armenian banking system in 2019-2020 is available on this link.

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