Wednesday, May 12 2010 14:45
The volume of individual persons' deposits in commercial banks of Armenia grow almost by 7% up to $906.1 mln in 1Q 2010
ArmInfo. The volume of individual persons' deposits in commercial banks of Armenia grow almost by 7% up to $906.1 mln in 1Q 2010 against 14,3% in the 1Q 2009, having amounted to 362.9 bln drams ($906.1 mln) by 31 March 2010. If compared with previous year, this indicator has grown by 35,4%, because of sharp devaluation of Armenian dram by 22% on 3 March 2009, as a result of which the volume of dram deposits grew much.
According to the ranking of commercial banks prepared by ArmInfo, as of 31 March 2010 the biggest volume of deposits of individual persons was fixed at HSBC Bank Armenia, which ensured the aggregate volume of individual persons' deposits (call liabilities and time deposits) at the level 73 bln drams ($182.4 mln). Unibank is the second - (48.4 bln drams or $120.8 mln). Then comes Ardshininvestbank (35.7 bln drams or $89.2 mln), ACBA-Credit Agricole Bank is the forth (30 bln drams or $75 mln) and VTB-Armenia is the fifth (25.1 bln drams or $62.6 mln). Armbusinessbank also entered the ten of leaders - 23.4 bln drams ($58.4 mln), then comes Converse Bank - 21.4 bln drams ($53.4 mln), the next is Ameriabank - 20.1 bln drams ($50.1 mln), INECOBANK - 11.9 bln drams ($29.6 mln) and Areximbank - Gasprombank Group - 11.5 bln drams ($28.8 mln).
As for the share of individual persons' deposits in general obligations as of 31 March 2010, HSBC Bank Armenia and Unibank are the leaders - 61% and 53% respectively. In HSBC Bank Armenia deposits of individual persons were equally distributed at call liabilities and time deposits. As for Unibank - they were concentrated at time deposits. From the above mentioned leading banks Ameriabank provided significant growth - more than threefold.
Almost 45% of individual persons' deposits are concentrated at the following three bank - HSBC Bank Armenia, Unibank and Ardshininvestbank, thanks to which the share of the five leading banks is 60%. VTB Bank has the smallest share of individual persons' deposits in the aggregate index - 0,3%.
Growth of individual persons' deposits was fixed in all 22 banks in the 1Q 2010 if compared with the 1Q 2009. Ameriabank provided the biggest annual growth of deposits (more than threefold, the 8th position in absolute index), than come ProCredit Bank and VTB Bank (more than twofold, the 16th and 22nd positions respectively). The biggest quarter growth was fixed at ProCredit Bank and Armbusinessbank - by 23,4% and 22,2% respectively, and decline was fixed only at Armeconombank and Cascade Bank - by 2,9% and 0,8% respectively (the 11th and 19th positions on absolute index in the banking system). At Armeconombank and Cascade Bank the quarter decline of individual persons' deposits was conditioned by decrease of call liabilities. At the end of the 1Q 2010 Cascade Bank and Ameriabank united and the new bank will function at the market under Ameriabank brand.
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