ARDSHININVESTBANK AND ACBA-CERDIT AGRICOLE BANK ENSURED THE BIGGEST LEVEL OF NET PROFIT IN THE BANKING SYSTEM OF ARMENIA OVER THE FIRST HALF-YEAR 2009

ArmInfo
2009-08-18 20:05:00

ArmInfo. Ardshininvestbank and ACBA-Cerdit Agricole Bank ensured the
biggest level of net profit in the banking system of Armenia over
the first half-year 2009 – 1.9 bln drams ($5.2 mln) and 1.6 bln drams
($4.3 mln).

Ameriabank occupied the third place – 55 mln drams, Prometei bank –
the forth – 403 mln drams and Armenian Development Bank – the fifth –
357 mln drams.

According to the analysis and ranking of Armenian commercial bank
prepared by ArmInfo, BTA Bank is the leader by the level of assets
profitability (the share of the net profit in assets – ROA) – 2,8%,
Bank occupies the second place – 2,2%, Armenian Development Bank –
the third – 2,1%, Ardshininvestbank – the forth – 1,6% and ACBA-Credit
Agricole – the fifth – 1,1%. Ardshininvestbank is the leader by the ROE
level – 8,3%, Armenian Development Bank occupies the second place –
6%, Artshakhbank – the third – 5,8%, ACBA-Credit Agricole Bank – the
forth – 5,7% and bank – the fifth – 4,4%. The aggregate net profit
of the banking system of Armenia according to the results of the
first half-year 2009 amounted to 4.4 bln drams ($12.1 mln), having
decreased by 64% if compared with the same period of 2008 and by 16%
if compared with 2005. According to the reports of 22 acting banks,
16 of them finished the first half-year 2009 with the summary profit
6.3 bln drams, and 6 banks – with the summary loss 1.9 bln drams. The
fact that earliar profitable banks have found themselves among the loss
banks is conditioned by the sharp March devaluation of the Armenian
dram, as a result of which loss was fixed in these banks at the end
of the first quarter 2009.

In the second quarter 2009 some of these banks managed to correct
the situation and start having profit, but the rest, as experts say,
will overcome this task over the current year.

The total capital of the banking system grew by 7,6% in the first
half-year 2009, and by 28,8% if compared with 2008 and by more than
threefold if compared with 2005, having amounted to 256.4 drams
($663 mln) as of 30 June 2009. This indicator grew by 5,2% in the
second quarter 2009 because of profit growing, whereas growing of
the authorized capital was fixed only in three banks (Unibank, and
Armswissbank). The annual growth of the total capital was provided
chiefly at the expense of the authorized capital growing by ten
banks. Ameriabank is the leader since the forth quarter 2008 by the
level of the authorized capital – 18.2 bln drams (annual growth
by 3 times), Ardshininvestbank occupies the second place – 15.5
bln drams (no change if compared with 2008), ACBA-Credit Agricole
Bank – the third – 14.6 bln drams. ACBA Credit Agricole Bank is the
leader by the size of the total capital as of 20 June 2009 – 28 bln
drams, Ardshininvestbank occupies the second place – 27 bln drams,
VTB-Armenia- the third – 23.2 bln drams, Ameriabank – the forth –
20.8 bln drams and – the fifth – 15.1 bln drams.