Thursday, October 28 2010 14:12
Share of foreign capital in the authorized fund of Armenia's banking system grew from 67% to 72.4% for 9 months of 2010
ArmInfo. The share of foreign capital in the aggregate authorized fund of Armenia's banking system for Q3 2010 grew 3.6% (in absolute term) to 147.6 billion drams ($408.4 million) as of October 1 or to 72.4% (versus 73% as of June 30 and 67% as of Dec 31 2009).
The authorized capital of the banking system was up 4.4% to203.8 billion drams or $564.1 million as of for the period under review.
Armenian Central Bank press-service told ArmInfo the summary total capital of the banking system was up 4.4% to 306.6 billion drams ($8481.7 million) for Q3 2010. In the structure of total capital, profit made up 72.5 billion drams or $200.6 million as of the above date. The growth for the third quarter totaled 6%. Main reserves grew 2.1% and totaled 15.1 billion drams ($41.7 million) on July 1. As of October 1 2010, the banking sector of Armenian encompassed 21 operating commercial banks and 400 branches (versus 393 branch as of July 1 2010). To recall, Cascade Bank and Ameriabank were merged in June 2010.
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