Armenian banks’ aggregate assets grow 10.2% to AMD 1127.9 billion

YEREVAN, May 7. /ARKA/. Aggregate assets of Armenian banks amounted to AMD 1127.9 billion by late March after growing 10.2% or by AMD 104.2 billion over the first quarter of 2009.

Central Bank of Armenia says in its quarterly review of Armenian banks’ activities that the aggregate cash of the banks grew 26.2% or by AMD 10.9 billion to 52.5 billion.

Claims toward banks and other financial organizations grew 103.8% or by AMD 28.5 billion to AMD 55.9 billion.

Claims to the Central Bank, including correspondent accounts, have grown 52.1% or by AMD 54.2 billion over the mentioned period reaching AMD 158.2 billion.

Correspondent accounts in banks reduced 10.6% or by AMD 8.1 billion to AMD 67.9 billion.

Reserves intended for recovering possible losses grew 22.9% or by AMD 2.7 billion in the first quarter and reached AMD 14.7 by late March.

Credits extended to legal entities have grown 9.5% or by AMD 27.6 billion over the quarter to AMD 317.3 billion by late March, while loans given to individuals have reduced 0.8% or by AMD 2.5 billion to AMD 305.9 billion.

The loans provided to bank-related individuals and employees reduced 6% to AMD 17.6 billion.

According to the Central Bank’s review, the share of investment in state securities in banks’ total assets has shrunk 6.7% or by AMD 5.4 billion over the quarter to AMD 75.7 billion by late March.

Leasing and factoring operations totaled AMD 7.5 billion after reducing 23.7%.

Investments in other securities grew 16% to 3.9 billion.

Banks’ broad funds amounted to AMD 51797.9 million by March 31, 2009 against 51773.3 million by the same date a year earlier.

Received interests totaled AMD 6993.7 million and other assets AMD 21363.3 million by the end of the first quarter of 2009 against AMD 17707 million earlier that quarter.

ARKA News Agency’s analysis shows that ACBA-Credit Agricole Bank, with its AMD 140.9 billion, is the largest asset owner among Armenian Banks.

HSBC Bank Armenia ranked second for its AMD 128.2 billion and Ardshininvestbank third (AMD 121.1 billion).

These banks are followed by VTB Bank (Armenia) (AMD 105.8 billion) and Ameriabank (AMD 105.8 billion).

Armenia has 22 banks and 391 branches. ($1 = AMD 372.56). M.V. --0—