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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

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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

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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

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Edward Nalbandian advises his Azerbaijani counterpart not to use international arena for propaganda

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OSCE Minsk Group Co-Chairs express their serious concern about the increase in tensions and violence in Karabakh conflict zone

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No third tailing dump in Tukhmanuk

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Deputy Prime Minister of Azerbaijan: The Azerbaijani people do not believe the OSCE Minsk Group

OSCE representative concerned about Armenia court decision forcing media outlets to disclose sources

The NKR Minister of Foreign Affairs received the Head of the ICRC Mission in Nagorno-Karabakh

Members of Karabakh parliament made a statement to protect Levon Hayrapetyan

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According to the results of the first half of 2014, growth rates of Ameriabank's indices exceed average market level

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No visa regime between Georgia and Armenia

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Political expert: Growth of tension at the border is a regular ill-fated expression of complexes by Azerbaijan

James Warlick: The number of incidents and resulting deaths and injuries is also a setback in our efforts to work with parties to find a lasting peace

Lake Sevan is on the verge of environmental disaster

Life of the three persons injured in Kashatagh as a result of a landmine explosion is out of danger

EU welcomes ruling of Turkish Constitutional Court regarding investigation into the 2007 murder of Turkish- Armenian journalist Hrant Dink

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Regional

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Vugar Aliyev committed to strengthening the responsibility of Internet resources

Civil society urges Aliyev to defend democracy

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.

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