Thursday, January 26 2012 21:25
In 2011 Unibank increased its net profit thrice and found itself among top five leaders
ArmInfo. In 2011 Unibank increased its net profit almost thrice and found itself among top five leaders with 2.6 bln AMD or $6.8 mln. Over Q4 alone the net profit of the Bank amounted to 1 bln AMD, which was by 26% higher than in Q3 2011.
According to the financial report of the Bank, in the structure of total incomes of Unibank, which grew by 13% over 2011, the share of interest incomes made up 76%, with the y-o-y growth of the amount being 10% mostly due to the growth of income from the loans placed. In the structure of total expenses, the share of interest expenses made up 53%, with the y-o-y growth of the amount being 4.6% due to the increase in expenses on time deposits and current accounts of the customers.
In the structure of noninterest incomes, the commission income from the currency operations grew almost four times over 2011, the commission income from the service of plastic cards - by 4.2%, the income from the currency purchase and sale - by 21.4%. In the structure of noninterest expenses, the expenses on operations with currency and securities grew over 6 times, the commission expenses on corresponding and other accounts grew over 4 times, while the commission expenses on operations with plastic cards dropped by 31%.
In 2011 Unibank's assets grew by 10.3% to 115.9bln AMD or $300.5mln, wherein 74% were loans (12% annual growth). The financial investments totaled 5bln AMD or $13mln.
The liabilities grew by 9.2% to 98.3bln AMD or $254.7mln, wherein 92% were the payables to customers (call and time deposits) - 10.3% more than in 2010.
The capital grew by 16.2% to 17.7bln AMD or $45.8mln, wherein the authorized capital made up 64.6% (no change during the year) and the accumulated profit 32.4% (58.4% annual growth).
As of Jan 1 2012 Unibank had 14 branches in Yerevan, 17 all over Armenia and 2 in Nagorno-Karabakh. It also has an office in Moscow. The shareholders are Ripatonso Holdings Limited (75.44%), Gagik Zakaryan and Georgy Piskov (12.28% each).
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