Total Assets Of Armenia’s Banking System 764.4bln AMD In 2007

TOTAL ASSETS OF ARMENIA’S BANKING SYSTEM 764.4BLN AMD IN 2007

ARKA News Agency
Jan 30 2008
Armenia

YEREVAN, January 30. /ARKA/. On January 31, 2007, the total assets of
Armenia’s banking system amounted to 764,389.9mln AMD – a 239,872.5mln
AMD or 45.67% increase during the year 2007. A 15.5% increase in
the total assets of Armenia’s banking system was recorded in the 4th
quarter of 2007.

According to a review of Armenian banks’ activities for the 4th quarter
of 2007 prepared by the Central Bank of Armenia (CBA), cash in banks
increased by 8,521.1mln AMD or 27.9% during the 4th quarter and totaled
39,091.5mln AMD. Funds on the banks’ correspondent accounts decreased
by 4,148.9mln or 9.2%, to 40,824.4mln AMD.

During the period under review, claims on the CBA increased by
13,678.7mln AMD or by 22.1% and reached 75,476.7mln AMD. Claims on
other banks and financial organizations increased by 20.5% and reached
32,556.1mln AMD.

In 2007, in the banks’ total assets, investments in government
securities increased by 18,566.7mln AMD or by 19.8% compared to the
beginning of the year. On January 31, 2007, they totaled 112,190.2mln
AMD.

A considerable increase in the volume of crediting of individuals
and legal entities was recorded in 2007. Specifically, the volume
of individual credits increased by 97,282.8mln AMD or by 89.3% and
reached 206.3mln AMD.

The crediting of bank-related persons and bank staffers increased
by 64% and totaled 10,051.9mln AMD on December 31, 2007. Crediting
of legal entities increased by 77,873.5mln AMD or by 68% and totaled
192.4mln AMD.

During the 4th quarter of 2007, the volume of leasing and factoring
operations increased by 97.3% and reached 7,928.4mln AMD. Investments
in other securities increased 2.2 times and reached 2,705.5mln AMD.

On December 31, 2007, the Armenian banks’ fixed assets amounted to
42,437.1mln AMD – a 38.3% increase during the year. The interests
receivable totaled 4,577.6mln AMD, other assets 5,559.3mln AMD. The
reserve fro probable losses from assets reached 7,688.7mln AMD against
4,562.1mln AMD early in 2007.

An ARKA-made analysis shows that the following five banks have the
largest assets: HSBC Bank Armenia (104.5bln AMD), Ardshininvestbank
(93.8bln AMD), ACBA Credit Agricole Bank (80.3bln AMD), Bank VTB
Armenia and Conversebank (58.7bln AMD each). On December 31, 2007,
twenty-two banks and 347 branches were operating in Armenia. Last
December, the CBA issued a banking license to a new bank,
ProCreditBank. ($1 – 306.87 AMD).