Thursday, March 3 2011 12:36
"Unibank" Retains First Place by Time Deposits
ArmInfo. Unibank retained leadership in the banking market of Armenia in 2010 in terms of time deposits and rose to the first position by the financial stability ratio (developed and calculated by ArmInfo for the banking market of Armenia). In particular, the financial stability ratio of Unibank for 2010 totaled 18.28% (versus 17.06% in 2009 - 2nd position). It was the lowest indicator in the banking system. The lower is the given ratio of the bank the less is its relative need in liquidity assets.
Analysis and Ranking of Armenian Commercial Banks prepared by Agency of Rating Marketing Information (ArmInfo) shows that time deposits of Unibank exceeded 68 billion drams as of Jan 1 2011 (inclusive of government credits - 18.9 bln drams), including over 63% were personal deposits (1st position). Time deposits of the bank fell 5.8% versus 2009 and grew 6.3% for Q4 2010. The share of time deposits in general obligations exceeded 68%. Call liabilities totaled 12.5 bln drams (10th position) and grew 23,2% for Q4 2010. This indicator was not changed versus 2009. In the structure of call liabilities the share of legal entities was 8.8 bln drams. General obligations of Unibank totaled 99.6 bln drams and the personal deposits (call liabilities and time deposits) - 47 bln drams (down 2.6% for 2010 and up 7.5% for Q4).
Unibank ensured almost 2 bln drams net profits (10th position) and increased in over 5fold in 2010. Interests expenses fell and non-interest expenses grew insignificantly. Net profit from currency operations for 2010 totaled 1.4 bln drams (68% growth for 2010 mostly due to the positive balance of currency purchase/sale and insignificant negative balance of currency revaluation). The bank took the 1st position in terms of this indicator. The Unibank press-service told ArmInfo that the bank increases the customer base and retains competitive positions due to the high-quality service, banking technologies for various categories of customers and development of cross sales. Unibank is focusing also on expansion of the branch network into regions. In 2011 8 new branches will be opened and the total number of the bank's branches will increase to 42 versus 33 on Jan 1 2010 (14 in Yerevan, 17 in the regions and 2 in NKR). Moody's Investors Service assigned Unibank financial stability rating E+, Ba3 long-term and NP -short- term global local currency deposit ratings with Outlook "Stable" in 2010.
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