Tuesday, November 8 2011 15:44

Share of foreign capital in authorized fund of Armenia's banking system remained unchanged at 73% in Q3 2011


ArmInfo. The share of foreign capital in the authorized fund of Armenia's banking system remained unchanged in Q3 2011 - 164.7bln AMD ($442.7mln) or 72.74% (against 72.73% July 1 2011, 75% Apr 1 2011, 74% Jan 1 2011 and 72.4% Oct 1 2010).

The authorized fund of the system did no change either - 226.4bln AMD ($608.6mln) or 66% of the total capital (against 66.7% June 1 2011, 63% Apr 1 2011 and 64% Jan 1 2011).

The press service of the Central Bank of Armenia reports that in Q3 2011 the total capital of the system grew by 1% to 343.1bln AMD ($922.2mln). The share of accumulated profit therein made up 23.8% or 81.6bln AMD ($219.3mln). The main reserves grew by 0.4% to 17.7bln AMD ($47.7mln).

There were 21 commercial banks with 432 branches in Armenia as Oct 1 2011 (against 418 branches June 1 2011, 411 Apr 1 2011, 408 Jan 1 2011 and 400 Oct 1 2010). Cascade Bank and Ameriabank merged in mid June 2010 and act now as Ameriabank.

Only ACBA-Credit Agricole Bank increased its authorized capital in Q2 2011 due to profit and receipts from placed bonds, with no single bank doing it in Q3 2011.
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