ACBA-CREDIT AGRICOLE BANK AND ARDSHININVEST ARE THE MOST PROFITABLE BANKS OF ARMENIA
ArmInfo
2009-12-03 13:59:00
ArmInfo. ACBA-Credit Agricole Bank and Ardshininvestbank showed the
highest profits in Jan-Sept 2009 – 2.7bln AMD ($7.1mln) and 1.5bln AMD
($3.9mln), respectively,
Ameriabank is the 3rd with 1.1bln AMD profit, HSBC Bank Armenia the
4th (1bln AMD) and Artsakhbank the 5th (0.7bln AMD).
According to the Ranking of Commercial Banks of Armenia prepared by the
Agency of Rating Marketing Information (ArmInfo), VTB Bank showed the
highest ROA – 3.5%. Prometey was the 2nd (3.1%), ACBA-Credit Agricole
the 3rd (1.9%), ADB the 4th (1.8%) and Artsakhbank the 5th (1.7%).
In ROE the leader was Artsakhbank – 10.8%, followed by ACBA-Credit
Agricole Bank (9.7%), HSBC Bank Armenia (7.5%), Ardshininvest (6.7%)
and Prometey (6.5%).
In Jan-Sept 2009 retained profit totalled 7bln AMD ($18.3mln) – 64.3%
less than in Jan-Sept 2008.
16 banks showed 10.6bln AMD profit, 6 banks – 3.6bn AMD loss. Some
of the formerly profitable banks are now among loss-makers due mostly
to AMD devaluation in Mar 2009. ArmInfo’s experts believe that those
banks will be able to improve the situation by the end of this year
especially as many of them are active economy creditors.
In Jan-sept 2009 the total capital of the banking system of Armenia
grew by just 12%, as against Jan-Sept 2008 – by 21.6% to 266.8bln
AMD ($694.3mln). In Q3 2009 the index grew by 4.1% due to growth in
profit. Only three banks increased their authorized capitals during
the period: ArmBusinessBank, HSBC Bank Armenia and Cascade Bank with
13 banks having increased their capitals in Jan-Sept 2009.
Ameriabank has the biggest authorized capital – 18.2bln AMD (7.1%
annual growth), Ardshininvest is the 2nd with 15.5bln AMD (no change),
ACBA-Credit Agricole Bank the 3rd with 14.6bln AMD (no change).
The top five in total capital are ACBA-Credit Agricole Bank – 29.2bln
AMD, Ardshininvest – 26.7bln AMD, VTB-Armenia – 22.6bln AMD, Ameriabank
– 21.3bln AMD and HSBC Bank Armenia – 16.5bln AMD.