Friday, January 27 2012 17:45
Liabilities of Areximbank-Gazprombank Group grew by 53% in 2011 due to growth in time deposits, inter-bank loans and loro-accounts
ArmInfo. In 2011 the liabilities of Areximbank- Gazprombank Group grew by 53% to 80.1bln AMD or $207.8mln due to redoubling of time deposits and inter-bank loans and almost eighteen- fold growth in loro-accounts.
Individual time deposits grew by 55.7% to 15.1bln AMD or $39.2mln, corporate ones redoubled to 7.1bln AMD or $18.3mln. Call deposits grew by 20.7% to 10.6bln AMD: individual deposits by 24%, corporate ones by 17.5%. Inter-bank loans made up 24.7bln AMD or $64mln, inter-bank deposits - 19.3bln AMD or $50mln, loro accounts - 201mln AMD or $521,000.
The assets grew by 42.3% to 95.9bln AMD or $248.5mln due to 59.5% growth in cash, 51.2% growth in loans, six-fold growth in inter-bank loans and deposits, 8.3% growth in financial investments, 5.1% growth in CB correspondent accounts.
74% of the bank's 75bln AMD ($195mln) loan book were loans given to big companies (twice as much as in 2010), 9% - loans given to SMEs (half of the 2010 index), 5% - consumer loans (11% growth), 5% - lombard loans (32.1% growth), 3% - mortgage loans (15.8% growth), 3% - credit cards (50% growth), 1% - auto loans (1/3 of the 2010 index).
The capital grew by 5.6% to 15.7bln AMD or $40.7mln, wherein 78% was the authorized capital (no change during the year) and 20% - the accumulated profit (35% less than in 2010).
The greater part of the income was interest income. In non-interest income plastic card service fees grew by 23%, foreign exchange receipts by 26%, in non-interest expenses plastic card service frees grew by 11%, foreign exchange and securities receipts grew by 25%, wage costs by 31%.
In 2011 the bank's net profit grew by 4% to 1bln AMD.
Expert: Electricity tariff containment in Armenia is only temporary
Political Scientist: Armenia`s withdrawal from Eurasian Economic Union (EAEU) to result in its dependence on Azerbaijani and Turkish markets
Artur Avetisyan: All discussions regarding the choice of a future NPP model will remain mere talk until there is a vision for strategic development
ATI.SU: Demand for international cargo transportation 30% up in Armenia
Civil Contract nominates Armen Ktoyan for Central Bank Board Member position
Armenia, France considering prospects for expanding technological cooperation 
Over 99.9% of wheat imported to Armenia comes from Russia