Total Assets Of Armenia’s Banking System 890.6bln Amd In 2nd Qaurter


July 28

By June 30, 2008, the total assets of Armenia’s banking system had
reached 890,584.6mln AMD – a 90,419.3mln AMD or 11.3% increase during
the 2nd quarter of 2008.

The CBA’s review for the 2nd quarter of 2008 says that cash in banks
increased by 3,589.2mln AMD or by 8.9% during the quarter under review
and reached 43,793.3mln AMD. The funds on correspondent accounts at
banks increased by 21,483.6mln or by 46% and reached 68,162.8mln AMD.

During the period under review, the claims on the CBA increased by
13,947.8mln AMD or by 24.9% and totaled 70,051mln AMD. Claims on
banks and other financial organizations increased by 6.4% and totaled
35,957.6mln AMD.

The crediting of individuals and legal entities increased as well.

Specifically, credits to individuals totaled 269,864.6mln AMD –
a 38,670.4mln AMD or 16.7% increase. Credits issued to bank-related
persons and bank staffers totaled 13,664.6mln AMD on June 30, 2008 –
a 10.8% increase.

The crediting of legal entities totaled 240,877.3mln AMD – a
24,098.1mln AMD or 11.1% increase.

According to the CBA’s review for the 2nd quarter of 2008, investments
in government securities decreased by 20,262.5mln AMD or by 18.5% in
bank’s total assets. By June 30, 2008, they had totaled 89,477.8mln

9,442mln AMD20leasing and factoring operations were carried out –
a 12.8% quarterly increase. Investments in other securities decreased
by 20.7% and reached 2,061.2mln AMD at the end of this June.

By the end of June 2008, banks’ fixed assets had totaled 45,292.7mln
AMD – a 5.6% quarterly increase, with interest payable totaling
6,416.4mln AMD. Other assets totaled 5,682.3mln AMD. The balance of
the asset loss reserve totaled 10,129mln AMD against 9,228.3mln AMD
early in the 2nd quarter.

An analysis made by the ARKA News Agency showed that the following five
banks recorded the largest assets: Bank VTB Armenia (112.4bln AMD),
Ardshininvestbank (107.8bln AMD), HSBC Bank Armenia (105.5bln AMD),
ACBA Credit Agricole Bank (88.1bln AMD) and Unibank (63.4bln AMD). By
June 30, 2008, twenty-two banks and 367 branches had been operating
in Armenia. P.T.