Thursday, February 18 2010 13:56
Four leader-banks determined by the position held in Armenian banking system
ArmInfo.ACBA-Credit Agricole Bank, VTB-Armenia, Ardshininvestbank and HSBC Bank Armenia have occupied the leading positions in the banking system of Armenia upon the results of 2009.
According to the analysis made by Financial Information Service of ArmInfo News Agency for the Analysis and Ranking of the Commercial Banks of Armenia quarterly bulletin, the position of each bank was determined by the own methodology with account of indicators of the total capital, assets, total credit investments, credits in the economy, investments in securities, total liabilities, attracted funds and undistributed profit. Unlike the previous analysis, the "position" indicator took into account the loro and nostro accounts, credits to individual persons, demand liabilities, fixed deposits, interbank deposits and credits. According to ArmInfo analysts, four banks, which have become leaders by the cumulative analysis of the afore-mentioned indicators, meet the leadership also by the size of assets.
So, the total assets of ACBA-Credit Agricole Bank made up 162,7 bln drams, HSBC Bank Armenia - 135,8 bln drams, VTB-Armenia - 120,7 bln and Ardshininvestbank - 119,4 bln. By the position held, these four banks "breathe down the neck" of Unibank, with assets of 108,6 bln drams and Ameriabank, with assets of 103,5 bln. According to ArmInfo analysts, in view of transfer to IFRS international standards, the commercial banks of Armenia were deprived of a specific standard of the reporting being published and appendices to it, in view of which the banks disclose their data at their sole discretion, that creates serious difficulties in assessment of the bank's real financial state and the banking system in general. In the conditions of the financial crisis, such "various readings" conflict with the declared policy of information openness and
transparency of the Armenian banking system.
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan