Armenia’s Central Bank’s capital grows to 41.8 billion drams

YEREVAN, June 2, /ARKA/. Armenia’s Central Bank said today in its balance sheet for the first quarter of 2010 that its total capital grew to 41.8 billion Drams at the end of March 2010 from 30.4 billion Drams on December 31, 2009.

The Central Bank’s chartered capital did not change staying at 100 million Drams., neither changed its main reserve standing at 11.4 billion Drams. But the amount of accumulated reserves from reevaluation of assets available for sale, constituted less 2.5 billion Drams against 1.4 billion Drams at the end of 2009. The volume of losses accumulated on capital’s account slashed by 19.2% to 52.8 billion Drams.

The additional chartered capital-which is the government’s investments in the Central Bank’ capital- did not change from December 31, 2009 standing at 85.7 billion Drams.

The Central Bank said also its total liabilities in the first quarter of 2001 slashed by 14.6 billion Drams or 1.5% to 985.6 billion Drams. Dram-denominated forex liabilities grew by 9.7% or 26.8 billion Drams to 302.6 billion Drams. Central Bank liabilities to the government in foreign exchange rose from 1.3 billion Drams at the end of 2009 to 16.4 billion Drams on March 31, 2010. Forex deposits and accounts of financial and other organizations grew by 5.8% from 150.6 billion Drams to 159.3 billion Drams.

In the reporting period Central Bank’s other borrowings grew from 28.3 billion Drams to 28.8 billion Drams. Other forex liabilities stood at 187.6 million Drams. The figures show that 69.3% of its liabilities (683.1 billion Drams) were in Drams, down from 72.4% at the beginning of the year

Central Bank’s liabilities in Drams before the government in the first quarter of this year fell by 1.2 billion Drams to 176 billion Drams. Liabilities in Drams-banknotes, coins in circulation- dropped by 44.4 billion Drams (13.8%) to 276.4 billion Drams. Dram deposits and accounts of financial organizations contracted by 27.9% or 14,9 billion Drams to 38.3 billion Drams. Other liabilities in Dram stood on March 31 at 71.2 million Drams, the Central Bank said. ($1 – 377.97 Drams). -0-