TOTAL ASSETS OF ARMENIA’S BANKING SYSTEM GROWS 9.2% TO 214.9BLN DRAMS

ARKA
Oct 24, 2008

YEREVAN, October 24. /ARKA/. Total assets of Armenian banking system
grew by 18,186.9mln Drams or by 9.2% and totaled 214,939.6mln Drams
at the end of September this year, says the Review of the Central
Bank of Armenia on activities of Armenian banks in the third quarter.

Authorized stock of Armenian banking system grew by 8.1% (10,560mln
Drams) to 142,268.9mln Drams in the third quarter. Non-residents’
share in the capital of Armenian banks grew by 10,600.4mln Drams
to 88,411.7mln Drams over the reporting period. In fact, the share
of non-residents constituted 62% of the overall authorized stock
against 59.1% in the beginning of the reporting quarter (54.34%
in the beginning of the year).

Main reserve of the banks’ capital had amounted to 6,420.3mln Drams by
the end of September – no change over the quarter. Accumulated earnings
on capital account of commercial banks totaled 56,750.6mln Drams at the
end of September as compared with 48,682.9mln Drams in the beginning
of the quarter. The current period profit was 19,564.6mln Drams.

According to information of ARKA Agency, the following are the five
leading banks of Armenia in terms of total capital – ACBA-Credit
Agricole Bank (24.8bln Drams), Bank VTB (Armenia) (23.2bln Drams),
Ardshininvestbank (23bln Drams), Ameriabank (18.8bln Drams), HSBC
Bank Armenia (14.4bln Drams).

In terms of authorized stock (without capital surplus), the leader
is Ameriabank (17bln Drams) followed by Ardshininvestbank (13.8bln
Drams), Bank VTB (Armenia) (13.78bln Drams), ACBA-Credit Agricole Bank
(10bln Drams), Areximbank (8.5bln Drams).

Twenty-two banks and 367 branches operated in Armenia at the end of
September. ($1=309.11Drams).