Tuesday, September 27 2011 15:28
Operations of investment companies in Armenia concentrated mostly on repo-transactions with government bonds
ArmInfo. Investment companies of Armenia ensured 478.2 mln drams or $1.3 mln net profits for the first half of 2011 outstripping the indicator for the same period of 2010 16-fold. Central Bank of Armenia told ArmInfo the accumulated profit of investments companies reached 717.7 mln drams or $1.9 mln as of July 1 2011 (19.1% of total capital), the y-o-y growth was over 3-fold. Total capital amounted to 3.8 bln drams ($10.2 mln), which is 35.7% more than a year ago. The share of the statutory capital in total was 72.7% or 2.7 bln drams ($7.4 mln), with a 17.4% y-o-y growth.
The source reported that the commission fees and incomes from investment services totaled 449.1 mln drams ($1.2 mln) with a 37-fold y-o-y growth. Net profits from securities transactions totaled 1.1 bln drams ($3.1 mln) with a 23.1% y-o-y growth.
General obligations of investment companies grew 50.8% versus the first half of 2010, 14% for the first half of 2011 and 23.8% for Q2 2011 and totaled 18.7 bln drams ($50.8 mln) as of July 1 2011. 85% or 15.9 bln drams of total was the share of repo-agreements with a 42% y-o-y growth and 18.7% growth for Q2 2011. The share of loans of resident-banks totaled 13% or 2.4 bln drams with a 4-fold y-o-y growth and almost 2fold growth for Q2 2011.
Assets of investment companies grew 48% versus the first half of 2010 and 21% for Q2 to 22.5 bln drams ($61 mln) as of July 1 2011. The share of securities repurchase agreements was 72% or 16.2 bln drams with a 41% y-o-y growth and 19% quarterly growth. Investments in government bonds totaled over 16% or 3.7 bln drams with over 4fold growth versus the first half of 2010 and 54.2% for Q2 2011. By data of the Central Bank, assets of investments companies totaled 19.6 bln drams as of Jan 1 2011 with the securities repurchase agreements totaling 14.2 bln drams and investments in government bonds - 1.7 bln drams. General obligations of investment companies totaled 16.4 bln drams on Jan 1 2011 with repo- agreements totaling 13.9 bln drams and credits from resident-banks - 2 bln drams. Total capital of investment companies amounted to 3.2 bln drams as of Jan 1 2011, the statutory capital totaled 2.5 bln drams. Accumulated profits totaled 416.9 bln drams. Net profits from return on securities for 2010 totaled 1.6 bln drams. Incomes and commission fees from investment services totaled 24.4 mln drams. The investment companies ensured 295.8 mln drams net profits for 2010.
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