Armenian ACBA-Credit Agricole bank topping state revenue committee’s
2008 list of banks having sent over AMD 1 million profit taxes to state
budget

YEREVAN, July 4. /ARKA/. Armenian ACBA-Credit Agricole Bank topped the
State Revenue Committee’s list of commercial banks who have paid over
AMD 1 million to the state budget as profit tax in 2008.

The bank sent AMD 1.43 billion to the state budget.

Ardshininvestbank with its 1.4 billion is the second biggest tax payer
in the list.

HSBC Bank Armenia came third with its AMD 843.7 million, Armeconombank
fourth with AMD 582 million and Converse Bank fifth (AMD 421.5
million).

The list includes 21 of 22 commercial banks of Armenia.

These 21 banks’ profit taxes sent to the state budget in 2008 total AMD
7.2 billion.

22 banks with 382 branches functioned in Armenia by December 31, 2008.

Armenian banking system’s aggregate assets reached AMD 1024.2 billion
by late December after growing 7.3% or by AMD 70.1 billion over the
year.

Their capital amounted to AMD 235.7 billion (9.7% quarterly growth).

Aggregate liabilities grew 6.7% or by AMD 49.3 billion to AMD 788.5
billion and undistributed profit totaled AMD 27.1 billion against AMD
20.8 billion in 2007. ($1 = AMD 360.66). M.V.-0–