Thursday, January 26 2012 19:52
ArmBusinessBank completes additional issue worth of 4 bln AMD
ArmInfo. In late Q4 2011 ArmBusinessBank held an additional issue worth 4.050 bln AMD, and on Dec 19 2011 Christie Management became the sole owner of the Bank's shares, having purchased the 13.01% stake from Ukrprombank (Ukraine).
ArmBusinessBank told ArmInfo that as a result of the issue, the authorized capital of the Bank increased by 30% to 17.5 bln AMD ($45.4 mln) from the former 13.450 bln AMD, thanks to which, the Bank's position rose by 4 levels and the Bank found itself among the top three leaders. In 2011 the total capital of the Bank grew by 33.6% to 23.4 bln AMD ($60.7 mln). In its structure, the share of the authorized capital made up 75%, and the share of accumulated profit - 24%. The net profit amounted to $4.6 mln (33.2% y-o-y growth).
According to the financial report of the Bank, in 2011 the provision of crediting grew by almost 40% to $279.2 mln (5th position). About 80% of the credit portfolio fell on loans to economy, mostly, to the sphere of construction, industrial sector, trade, small and medium enterprises. As regards the retail, mortgages and credit cards prevailed. Investments in securities (including government bonds) grew almost by 43% to $20 mln, the lion's share of which fell on the trade portfolio, which grew by 57% in 2011. The receivables from banks and other financial organizations (including the corresponding accounts) rose thrice to $13.8 mln.
In the structure of ArmBusinessBank's liabilities, which grew by 45.8% to $376.1 mln in 2011, the share of payables to the customers (including the call liabilities and time deposits) made up over 65%, and the share of payables to the banks and other financial organizations (including the interbank loans) - 34.4%. The amount of the payables to the customers grew by 57.2% in 2011 mostly due to the considerable growth of time deposits of individuals and call liabilities of legal entities, and the payables to the banks and other financial organizations rose by 57% due to the growth of interbank loans.
In the structure of total incomes of ArmBusinessBank, 84% fell on the interest incomes, and in the total expenditures over 63% fell on interest expenses. In 2011 the interest expenses of the Bank grew by 41.3%, and the interest expenses - by 67.2%. The pre-tax profit grew by 30.6% to $5.8 mln.
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