Thursday, May 13 2010 15:25
Accumulated profit of banking system of Armenia grows by 8,3% up to $202.7 mln in 1Q 2010
ArmInfo. As of 31 March 2010 the accumulated profit of the banking system of Armenia grew by 8,3% up to $202.7 mln in 1Q 2010 (by 15,3% if compared with the same period of 2009). The share of the accumulated profit in the total capital was about 28%. The accumulated profit was fixed at the plus level in 19 banks, the sum accumulated profit of which was 83.3 bln drams ($207.9 mln) as of 31March 2010; and at the minus level in 3 banks, the aggregate loss of which was 2.1 bln drams ($5.2 mln).
According to the ranking of commercial banks of Armenia prepared by Arminfo, ACBA-Credit Agricole Bank id the leader by the level of the accumulated profit - 13.8 bln drams or $34.5 mln (45,3% growth as against 1Q 2009 and 7,3% growth if compared with 4Q 2009). Then comes HSBC Bank Armenia - 10.2 bln drams or $25.4 mln (15,6% decrease as against 1Q 2009, and 10,1% as against previous quarter), Converse Bank is the third - 8.7 bln drams or $21.8 mln (0,7% decrease as against 1Q 2009, and 7,7% growth as against 4Q 2009), then comes Ardshininvestbank - 8 bln drams or $20 mln (4,3% growth as against the same period of 2009, and 0,4% growth if compared with previous quarter) and finally VTB Bank (Armenia) - 7.9 bln drams or $19.7 mln (34,2% growth as against 1Q 2009 and 9,8% growth if compared with 4Q 2009). The biggest loss was fixed at BTA Bank - 1.3 bln drams ($3.3 mln) with 41% growth as against the same period of 2009 and 9,4%. decrease if compared with 4Q 2009.
Out of 22 commercial banks 16 provided the yearly growth of the accumulated profit. The biggest yearly growth of the accumulated profit was fixed at Cascade Bank - from the minus 221 mln drams up to plus 178 mln drams. The biggest yearly decrease was fixed at Byblos Bank Armenia - by 45% with reduction of the minus indicator. In 1Q 2010 the accumulated profit grew in 19 banks. The biggest quarter growth was provided by Cascade Bank - by 95%, and the biggest quarter decrease - at Byblos Bank Armenia - from the plus 433 thsd drams at the beginning of the year to the minus 67 mln drams by the end of the 1Q.
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