SHARE OF FOREIGN CAPITAL IN AUTHORIZED FUND OF BANKING SYSTEM OF
ARMENIA REACHES 19.7 BLN DRAMS IN SECOND QUARTER OF 2004

YEREVAN, JULY 27, ARMINFO. Share of foreign capital in the authorized
fund of the banking system of Armenia increased by 1.7 per cent in the
second quarter of 2004, totaling 19.7 bln drams or 52% on July 1. The
authorized capital of the banking system increased by 2.4% in the
second quarter, as 3 commercial banks had replenished their authorized
funds by a total of 875 mln drams. As a result, the given indicator
made up 37.9 bln drams on July 1, 2004.

The press-service of the Armenian Central Bank told ARMINFO that the
summary capital for the second quarter increased by 5.7%, reaching
55.7 bln drams by July 1, 2004. Undistributed profits for the first
half totaled 4.3 bln drams on this date (the bank operating in the
special administrative regime exclusive), the major reserves totaled
5.1 bln drams. The profits-authorized capital ratio totaled 11.3%.

According to data of the Armenian CB, by July 1. 2004, 20 banks and
221 branches operated in the territory of Armenia, with one operating
in the special administrative regime of the Armenian CB. The results
of the activity of the country’s banking system were summed up on July
1, 2004 on the basis of data of 19 normally operating commercial
banks.