ACCUMULATED PROFIT OF ARMENIAN CENTRAL BANK FOR 3RD QUARTER OF 2008 UP 3.7% TO US$313.1 MILLION

ArmInfo
2008-11-24 14:15:00

ArmInfo. Accumulated profit of Armenian Central Bank for the
3rd quarter of 2008 was up 3.7% to 94.6 billion drams or US$313.1
million. Armenian CB press-service told ArmInfo total capital of the
CB was up from negative 39.6 billion drams to positive 687.6 million
drams (US$2.3 million) over the quarter under review.

The source reports the issue capital of the Armenian CB was left
unchanged – 100.0 million drams (US$331,000). The main reserve was
left unchanged either – 9.9 billion drams (US$32.7 million) as of
Sept 30 2008. The additional authorized capital doubled and totaled
85.7 billion drams (US$283.5 million). General assets of the Central
Bank were up 6.9% for the 3rd qt to US$2050 million or 619.5 billion
drams as of Sept 30, including 479.8 billion drams (US$1588 million)
was the share of foreign exchange assets and 139.7 billion drams
(US$462.2 million) was the share of dram assets. Foreign exchange
assets were up 0.2% for the 3rd qt, whereas dram assets were up 39.1%.

General obligations of the Armenian CB did not increase significantly
for the 3rd qt of 2008 to US$2048 million or 818.8 billion drams,
including 99.9 billion drams (US$330.8 million) foreign exchange
obligations and 518.8 billion drams (US$1717 million) drams
obligations. The growth of dram obligations or the period under review
totaled 0.3%, whereas foreign exchange obligations were up 1.7%.

Armenian Central Bank data say the accumulated profit for 2007
totaled 95.4 billion drams and total capital – negative 43.6 billion
drams. Assets of the Armenian CB for January 1 2008 totaled 587.9
billion drams including 505 billion drams foreign exchange assets
and 85 billion drams assets in terms of national currency. General
obligations of the CB totaled 631.4 billion on the above date,
including 99.1 billion drams foreign exchange obligations and 532.3
billion drams obligations in terms of Armenian dram.