Wednesday, August 17 2011 18:14
ACBA-Credit Agricole Bank increases net profit by 58,4% and becomes the leader
Arminfo. According to the results of the first half-year 2011, ACBA-Credit Agricole Bank provided 3 bln drams net profit, which is by 58,4% more than at the same period of 2010 and became the leader in the banking system of Armenia with this indicator.
As press-service of the bank reported, such a growth of profit allowed the bank to increase total capital by 13,8%, and by 7% in the first half-year, 4% of which was provided in the 2Q. As a result, by 1 July 2011 ACBA-Credit Agricole Bank became the leader for the total capital - 42.1 bln drams (about 12% of the aggregate total capital of the banking system) and for the authorized capital - 30 bln drams (more than 13% of the aggregate authorized capital of the banking system).
The assets of ACBA-Credit Agricole Bank grew by 14,6% for the first half-year 2011, having amounted to 192.7 bln drams or about 11% of the aggregate volume of assets of the banking system of the country. About 70% of the assets of the bank is the credit portfolio, which grew by 17,5% for the first half of 2011 - up to 133 bln drams (11,3% out of the aggregate credit portfolio of commercial banks). The bank is the leader of this indicator among 21 commercial banks of Armenia. In the structure of the credit portfolio the lion's share 27,5% are agriculture credits, then come consumer credits - 22% and mortgage crediting. The share of trade credits is 19% and industrial credits - 12,6% in the structure of the credit portfolio of the bank.
To note, ACBA-Credit Agricole Bank has been functioning at the banking market of Armenia since 1996.
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