Newsfeed

Public Services Regulatory Commission decides to reduce tariffs of some services of ArmenTel CJSC

Poaching and illegal hunting tours endanger birds in Armenia

The NKR premier: The Madrid Principles are certainly unacceptable to us

Armenian Copper Programme cuts blister copper production by 13.5%

VTB Bank (Armenia) confirms its leadership in lending

EY takes employees of Armenian ancestry back to their roots

Levon Hayraptyan's health much worse

Vahagn Hovnanyan: Oligarchs have full control of Armenian economy

John Heffern believes that Nagorno-Karabakh conflict can be resolved only through peaceful talks

In Oct 2014 Armenia to join UN peacekeeping operation in Lebanon

ICRC car fired at on Armenian-Azeri border

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Azerbaijan mounts another sabotage attack on Line of Contact, Armenian side has 1 victim and 2 wounded

Helsinki Citizens' Assembly Vanadzor Office urges Armenian Defense Ministry to look into military conscription of a kyphotic young man

Armenia suffers no losses during crossfire initiated by Azerbaijan on Armenian-Azeri border

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Armenia's former prime minister: The indicator of the economic growth in Armenia is extremely low for the first half of 2014

RPA: OSCE Minsk Group Co-Chairs’ latest statement was addressed to Azerbaijan

French citizen lost in Gegarkunik region of Armenia

RPA does not hurry to assess 100 day activity of Hovik Abrahamyan's government

Serzh Sargsyan sees no need in arming of population of border villages

Seyran Ohanyan: Armenia has been putting in place ‘engineering facilities’ along with other measures to prevent attempts by Azerbaijani sabotage groups to infiltrate into its territory

Charges brought against Levon Hayrapetyan

Azeri State Committee for Refugees: Issues of the return of Dilgam Asgarov and Shahbaz Guliyev and the transfer of Hasan Hasanov's dead body are under control of President Aliyev

Armenian Government tries to repay its debts by transferring state-owned enterprises' assets to a U.S. company

Armenian environmentalists comment on Red Book apes imported to Armenia

All U.S. citizens traveling to or residing in Armenia are strongly encouraged to enroll in the Department of State's Smart Traveler Enrollment Program

The ICRC has already started talks to return Azeri saboteur's corpse, Azerbaijani State Committee says

Stepan Safaryan: OSCE Minsk Group prefers stroking naughty Azerbaijan

In Q1 2014 net profit of Armenia's banking system dropped by 28.5%

  • by Karina Melikyan

  • Friday, April 25, 14:07

 In Q1 2014 the net profit of Armenia's banking system dropped by 28.5% to 9.1bln AMD or $22mln. As compared with Q1 2013, the index grew by 6.7%.

According to the Express Ranking of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo), in Q1 2013 the index dropped by 37.3% due to slowdown in lending and the CB's decision to write off non-performing loans. 

Likewise, this year's drop may have also been caused by declining lending activities. Unfortunately, the banks have not yet specified their lending risks, so, it is yet clear why the profit has dropped.  In Q1 2014 the loans of Armenia's banks grew by 2.1% to 1.8tln AMD or $4.4bl. As compared with Q1 2013 they grew by 11.4%. Nostro account balance shrank by 10.1% in Q1 2014 and by 23.7% as compared with Q1 2013 to 227.6bln AMND or $550.7mln. Investments in securities grew by 9.1% and 20%, respectively, to 225.5bln AMD or $545.6mln. Assets dropped by 0.2% and grew by 14.4% to 2.9tln AMD or $7.1bln. Loans made up 61.4% of assets, nostro accounts 7.8%, investments in securities 7.7% against respective 63.1%, 7.2% and 7.3% in Q1 2013.

In Q1 2014 the obligations of Armenia's banks dropped by 0.8% to 2.5tln AMD or $5.9bln. As compared with Q1 2013 they grew by 14.2%. 

The total capital grew by 2.5% in Q1 2014 and by 15.3% as compared with Q1 2013 to 481.6bln AMD or $1.2bln. Accumulated profit grew by 5% and 26.4%, respectively, to 170.2bln AMD, authorized capital by 2.7% and 7.5%, respectively, to 262.5bln AMD. In Q1 2014 only VTB Bank (Armenia) increased its capital (by 50.3%) due to issue of 7bln AMD worth of shares.  

HSBC Bank Armenia, Ardshininvestbank and Ameriabank registered the biggest net profits, ACBA-Credit Agricole Bank, VTB Bank (Armenia) and Ardshininvestbank the biggest capitals, Ameriabank, VTB Bank (Armenia) and Ardshininvestbank the biggest assets, VTB Bank (Armenia), ACBA- Credit Agricole Bank and Ameriabank the biggest loan books, HSBC Bank Armenia, Armswissbank and Armbusinessbank the biggest investments in securities, Ameriabank, Ardshininvestbank and VTB Bank (Armenia) the biggest obligations.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields