Total Capital of Armenian Banks Grows 6% in One Quarter

YEREVAN, May 6. /ARKA/. Total capital of Armenian banks increased by
10,366.8mln AMD or 6% in the 1st quarter of 2008 reaching 181,943.6mln
AMD as of March 31. The data is provided in the Central Bank’s short
review of the activities of Armenian banks during the first three
months of 2008.

Authorized capital of Armenian banking system increased 4.2%
(4,850.2mln AMD) and totaled 121,336.7mln AMD. Share of non-residents
in the total capital of Armenian banks grew 27.6mln in the given period
and totaled 63,329.6mln AMD. Share of non-residents in the authorized
capital of the country’s banking system was 52.19% against 54.34%
recorded at the start of the year.

As of March 31, 2008, the share of core reserve funds in the capital of
the banks was 5,880.3mln AMD ` a 1.4% growth. Profits accumulated on
the capital accounts of commercial banks totalled 44,195.4mln AMD
against 38,692.7mln AMD recorded at the beginning of the year.

The running period profit is 5,914.7mln AMD.

The analysis of ARKA News Agency shows the following five banks have
the greatest total capital in Armenia – ACBA-Credit Agricole Bank,
(22.2bln AMD), VTB Bank Armenia (21.4bln AMD), Ardshininvestbank
(19.8bln AMD) HSBC Bank Armenia (12.6bln AMD), and Conversebank
(11.6bln AMD).

As far as the authorized capital showing is concerned (capital surplus
excluded) Ardshininvestbank is the leader (13.8bln AMD), followed by
VTB Bank Armenia (13.78bln AMD), ACBA-Credit Agricole Bank (10.27bln
AMD) Promotey Bank (7.2bln AMD) and Armimpexbank, which grew its
capital 3.2-fold in one quarter ` from 4.4bln AMD to 6.4bln AMD.

As of March 31, 2008, 22 banks with 358 branches were operating in
Armenia. ($1 ` 306.95 AMD). `0′