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

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

Political expert: OSCE Minsk Group Co-Chairs want to lobby the meeting between Presidents of Armenia and Azerbaijan

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

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

Heritage Party considers Volodya Avetisyan to be a political prisoner

Rostelecom expands its sales and customer service network

Arthur Grigoryan appointed commercial manager of mobile communication division at Beeline Armenia

Edward Nalbandian: Armenia wants to start a dialogue on abolishment of visa regime with EU

Edward Nalbandian: Unlike Azerbaijan, Armenia has been consistently proving its adherence to the principles of international law

No third tailing dump in Tukhmanuk

Edward Nalbandian: Turkey, which is striving to the EU, has shut down the border to the neighboring state, whereas a principle of free movement at the EU territory is one of the basic norms


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

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

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

Marine Karapetyan: Ameriabank on large business: problems and solutions

Eduard Sharmazanov: The opposition camp has no leader to steer the people

Alexander Zinker: Readiness of the Kremlin to protect its “Big Russian world” is dangerous for Russia itself

Vahe Davtyan: lternative power engineering should be developed regardless of fluctuations in electric power tariffs

Alexander Krylov: Taking into consideration the experience of the EU, Russia has to refuse maximal extension of the Eurasian Economic Union

Rasim Musabekov: Not only global but also the regional geo-political balance is changing

Zardusht Alizade: Apart, Armenia and Azerbaijan will always remain non-democratic fascist states

Thomas de Waal: What was possible between Sweden and Finland in the past century is impossible today between Armenia and Azerbaijan

Zhirayr Sefilyan: The format of our relations with Russia needs revision

Yana Amelina: The West or Russia, that is the question

Gia Nodia: Not the shortage of territories but finding a place in the world is the key problem of Russia

Vladimir Lepekhin: Russia has to pass from “soft force” regarding the USA to the “just force” concept

HSBC Bank Armenia, Ardshininvestbank and Ameriabank still Top 3 banks of Armenia by net profits

  • by Erik Abrahamyan

  • Tuesday, February 25, 17:32

HSBC Bank Armenia, Ardshininvestbank and Ameriabank are still Top 3 banks of Armenia by net profits for 2013: 8 bln drams ($19.7 mln), 6.5 bln drams ($16 mln), and 6.2 bln drams ($15.2 mln), respectively. ACBA-Credit Aghricole Bank is on the 4th position with 5,1 bln drams net profits and INECOBANK ranks the 5th with 4.893 bln drams. VTB Bank (Armenia) is on the 6th position with an insignificant different - 4.891 bln drams.  

According to the Analysis and Financial Ranking of Armenian Banks prepared by ArmInfo News Agency, Top 2 banks by the return on assets (ROA) are INECOBANK - 4.18%, HSBC Bank Armenia - 3.53% and ArmSwissbank - 3.52%. Then goes Ardshininvestbank with 2.86% forcing ARARARTBANK  to the 6th position with 2.63%. The first two places in the Top 5 banks by return on equity (ROE) still belong to INECOBANK (25.16%) and HSBC Bank Armenia (20.15%).

Ardshininvestbank ranks the third (17.36%) forcing ARARATBANK to the fourth place with 17.29%. In fact, Ameriabank were down to the 56h position (16.10%). 
Retained profits of Armenian banks for 2013 totaled 48 bln drams ($118.4 mln), growing 21.9% versus 2012 and falling 13.4% for Q4 2013 versus 18.4% growth for Q3.  By the balance sheets of 21 operating banks, 19 out of total number of banks ensured 49.8 bln drams total profits for 2013, amid 1.8 bln drams loss of the remaining 2 banks.  Retained profits of 8 banks suffered decline for 2013. This indicator of Byblos Bank Armenia fell nearly 4-fold to a negative level. Meanwhile Anelik Bank's negative retained profits are even higher in absolute terms. The bank plans to zero its losses and end up with profits in 2014.

 Armbusinessbank took the leadership position by the annual growth of retained profits (4-fold) ending up with profits, due to increased investments in government bonds (21.7%) amid 2.3% growth of the loan book. Converse Bank, Armeconomibank and ProCredit Bank go the next by the annual growth of retained profits (over twofold). The latter went up with profits due to a 29.1% growth of the loan book. Converse Bank increased lending by 25.8% and investments in government bonds by 47%. Ameriabank increased investments in government bonds over threefold, funds on nostro-accounts by 88.8% and the loan book by 11.5%. 
Total capital of the country's banking system for 2013 grew 16.7% and 5.9% for Q4 2013 (4.2% in Q3) to 471.2 bln drams ($1.2 bln) as of Dec 31 2013. The annual growth of total capital resulted from a 4,7% growth of the statutory capital (following capitalization of four bank, including 2 in Q3 and the other 2 in Q4), and a 42.7% growth of the revaluation reserve. Particularly, the following banks replenished their statutory capitals for 2013: ProCredit Bank (Q3, 33.4% - issue of shares), Arexibank-GPB Group (Q3, 14.9%, investments by the sols shareholder -GPB), Unibank (Q4, 14.9%, a growth in the share of the majority shareholder Ripatonso Holdings Ltd from 75.44% to 100%), and ArmSwissbank (Q4, 44.3%, acquisition of a 20% shares in the bank by Belegingsmachepij Jongo LLC, though Vardan Simarkes is the indirect shareholder of the bank - 100%). 

ACBA-Credit Agricole Bank took the leadership position by the statutory capital in July 2011 and retained its position till 1 Jan 2013 - 30 bln drams. The bank capitalized most of its profits and share capital in Q2 2011 forcing Ameribank to the second place. Ameribank had been on the first place by this indicator in the period from Q4 2008 up to June 2011 with 25.5 bln drams (without annual changes, and including the merger with Cascade Bank in June 2010). The third position belongs to HSBC Bank Armenia - 18.4 bln drams (due to capitalization in Q3 2012 at the expense of profit). The bank forced Armbusinessbank to the 4th position with 17.5 bln drams (capitalization in Q4 2011 through additional issue of shares).  Areximbank-GPB Group tanks the 5th with 16.5 bln drams statutory capital (capitalization in Q3 2013).  Top 5 banks by total capital as of Jan 2014 are ABCA-Credit Agricole Bank - 54.3 bln drams (up 11.1% versus Jan 1 2013), Ardshininvestbank - 44.2 bln drams (up 23.4%), HSBC Bank Armenia - 41.3 bln drams (up 16,3%), Ameriabank - 38.8 bln drams (up 5.5%), and VTb Bank (Armenia) - 37.5 bln drams (23.8%). 

Assets of the banking system grew 22.8% for 2013 and 8.1% for Q4 2013 versus 2.9% in Q3 2013, totaling 2.9 trillion drams ($7.3 bln) as of Dec 31 2013. Assets grew ion 2013 as the funds on bank correspondent accounts (nostro) grew 36.5% (exclusive of Ameribank's big amount, the growth was insignificant), portfolio of government bonds grew 15.4%, lending grew 14,4% and disposable funds - 13.9%. Top five banks by assets are Ameriabank - 315.1 bln drams (28.6% growth for 2013), VTB Bank (Armenia) - 299.7 bln drams (41.8% growth), Ardshininvestbank - 270.9 bln drams (36.4% growth), ACBA-Credit Agricole Bank  - 267.8 bln drams (8.3% growth), and HSBC Bank Armenia - 249.4 bln drams (17.9% growth).

Send to a friend

To (e-mail)

Your name



View comments (0)

Be first to comment on this article

* Indicates required fields