Monday, September 26 2011 16:48
In Q2 2011 accumulated profit of Armenia's Central Bank totalled $310.7mln
ArmInfo. In Q2 2011 the accumulated profit of the Central Bank of Armenia totalled 114.6bln AMD or $310.7mln - 7.1% drop in Jan-June 2011 (6.7% drop in Q1 2011 and 0.4% drop in Q2 2011).
According to the press service of the Central Bank, in Jan-June 2011 the CB's capital dropped by 40.8% (by 37.2% in Q1 2011 and by 5.8% in Q2 2011) to -12.9bln AMD or -$34.9mln due to the above-mentioned drop in the accumulated profit and a 17.6% decreased in the revaluation reserve level (to -1.4bln AMD). The major reserve and the additional share capital remained unchanged at 17.4bln AMD and 85.7bln AMD, respectively.
In Q2 2011 the assets grew by 0.6% to $2.5bln or 935.1bln AMD, wherein 76.1% or 711.8bln AMD ($1.9bln) were foreign exchange assets. In Q2 2011 the foreign exchange assets dropped by 2.3%, while the AMD ones grew by 11.3%. During the same period the obligations grew by 0.5% to $2.6bln AMD or 948bln AMD ($2.6bln), wherein 21.7% or 205.5bln AMD ($557.1bln) were foreign exchange obligations - 2.5% drop against 1.4% growth in the AMD obligations (to 742.5bln AMD or $2bln).
The quarterly drop in the foreign exchange assets was due to a cutdown in the cash, the loans provided by banks and other financial organizations and the money placed at the IMF, while the quarterly growth in the AMD assets was due to growing loans and reverse repos and securities meant for sale and pending repayment. The quarterly drop in the foreign exchange obligations was due to the curtailed balances of the CB deposits and accounts of banks and financial organizations and the reduced obligations to the IMF, while the growth in the AMD obligations was due to growing circulating cash and obligations to the IMF and reduced obligations to the Government.
In 2010 the CB's accumulated profit totalled 12.3bln AMD, the capital - -21.8bln AMD, the assets - 924.6bln AMD (730.5bln AMD in foreign exchange and 167.1bln AMD in AMD), the obligations - 946.4bln AMD (213.7bln AMD in foreign exchange and 732.7bln AMD in AMD).
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