Tuesday, March 2 2010 17:58

ACBA Credit Agricole Bank ensured half of profit of Armenian banking system


ArmInfo. According to the results of 2009, ACBA Credit Agriole Bank ensured a net profit of 4.254 bln AMD or 49,6% of the total net profit of the banking system of Armenia, said Director General of ACBA Credit Agricole Bank Stepan Gishyan at today's press-conference.

He said that under conditions of the financial and economic crisis, the bank continued its activity last year and did not stop the process of crediting. "In general, the given policy proved its value, and in 2009 we gained quite good results, having demonstrated growth for all indices", - stressed Gishyan.

Thus, as of 1 January 2010, the share of ACBA Credit Agricole Bank made up 12,3% of the total assets of the banking system, or 162.7 bln AMD (1st position in the banking system), having increased by 32% as compared with 2008. The share of provision of crediting made up 12,1%, or 94 bln AMD (1st position), having grown by 10% as compared with 2008. In the credit portfolio of the bank the lion's share fell on agricultural credits - 31,4% or 29.5 bln AMD. "We have been increasing the portfolio of agricultural credits since 1995 as this is a priority sphere for us. We will continue working in this direction in the future as well",- he stressed and added that in 2009 the bank provided over 200 thsd agricultural credits.

At the same time, as of 1 January 2010, the share of total capital of the bank made up 12,7% of the summary total capital of the Armenian banking system, or 35.4 bln AMD (1st position), having increased by 34,8%. The liabilities of ACBA Credit Agricole Bank amounted to $336.9 mln (1st position in the banking system), and individuals' call and fixed-term deposits amounted to $72.5 mln.

Gishyan said that the level of overdue loans of ACBA Credit Agricole Bank in 2009 was 2-3 times as low as the average banking index. "We started the year 2010 positively: some activity is observed in economy as compared with the same period of 2009. We hope the year 2010 will be better for the banking system than the previous year",- he stressed.