Monday, August 9 2010 16:33
ACBA-Credit Agricle Bank, HSBC Bank Armenia and VTB Bank (Armenia) top three banks by highest net profit for first half of 2010
ArmInfo. ACBA-Credit Agricle Bank, HSBC Bank Armenia and VTB Bank (Armenia) are top three Armenian banks sorted by the highest net profit for the first half of 2010: 1.9 billion drams ($5.2 million) and 1.8 billion drams ($5 million), and 1.7 billion drams, respectively. Ardshininvestbank and Ameriabank proved the 4th and the 5th in the ranking with 1.3 billion drams and 1.2 billion drams, respectively (considering the merger with Cascade Bank in June 2010).
Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says INECOBANK ranks the first in the banking system in terms of ROA - 2.11%. BTA Bank is the second - 2.10%, Artsakhbank is the third - 1.97%, VTB Bank (Armenia) is the 4th - 1.91% and ArmSwissbank is the 5th - 1.79%. Artsakhbank is in the lead in terms of ROE - 12.22%. Top five banks comprise also HSBC Bank Armenia - 10.24%, INECOBANK - 9/68%, Converse Bank - 8.61% and VTB Bank (Armenia) - 8.33%.
Total retained profit of the banking system for the first half of 2010 amounted to 14.8 billion drams ($40.2 million) which is over 3-fold higher versus the same period of 2009. Out of 21 operating banks (inclusive of Cascade Bank and Ameriabank merger), 18 banks ensured 15.1 billion drams total profit for the first half of 2010 and another 3 banks suffered 0.3 billion drams total loss. Retained profit of seven banks suffered decline for the period under review. This indicator of Byblos Bank Armenia fell from positive 32 million drams to negative 29.9 million drams. Areximbank-GPM Group ensured the highest growth of retained profit the first half of 2010 - almost 20-fold (15th position in absolute terms) and ARARATBANK and HSBC Bank ensured almost 13-fold growth (10th and 2nd positions respectively). Total capital of the banking system for the first half of 2010 grew 6.2%. The growth for Q2 alone was 5.6% and versus the first half of 2009 - 21.3%. Total capital amounted to 304.3 billion drams ($827.9 million) on June 30. This indicator grew mostly as profits grew and partially because of replenishment of the authorized capital (by ProCredit Bank, Artsakhbank, ARARATBANK and Ameriabank for Q2 2010). Ameriabank has been in the lead since Q4 2009 in terms of the authorized capital - 25.5 billion drams (almost 40% growth considering the merger with Cascade Bank in June 2010). Ardshininvestbank was on the second position with 15.5 billion drams (no changes versus the first half of 2009) and ACBA-Credit Agricole Bank was the third with 14.6 billion (no changes). Top five leaders in terms of total capital are ACBA-Credit Agricole Bank - 37 billion drams (up 32.1% versus first half of 2009), Ameribank - 30.3 billion drams (up 46.1%), Ardshininvestbank - 27/6 billion drams (up 2.3%), VTB Bank (Armenia) - 26.7 billion drams (up 15%) and HSBC Bank Armenia - 18/8 billion drams (up 24.5%). Assets of the banking system for the first half of 2010 grew 1.1% and fell 2.1% for Q2. This indicator grew 21.1% versus the first half of 2009 to 1.4 trillion drams ($3.7 billion) thanks to increase in provision of crediting. Top five banks in terms of assets are ACBA-Credit Agricole Bank - 171.5 billion drams (up 19.7%), HSBC Bank Armenia -126.7 billion drams (down 5.4%), Ameriabank - 121.4 billion drams (up 40.8%), Armbusinessbank 113.3 billion drams (over 2-fold) and Ardshininvestbank- 111.2 billion drams (down 3.3%).
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