Monday, February 27 2012 20:12
Considerable activation of BTA Bank in economy crediting allows it to almost triple net profit in 2011
ArmInfo. Considerable activation of BTA Bank in economy crediting allowed it to almost triple the net profit in 2011. The Bank increased lending to economy by 63% in 2011, and more than twice over Q4 2011.
According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), the interest revenues of BTA Bank grew by 13% over 2011, and the interest expenses grew by 28% due to the almost twofold growth of the time deposits of individuals. In addition, in 2011 the Bank launched a new branch in Yerevan. As a result, the total income of the Bank over 2011 grew by 14%, while the total expenses slightly dropped, and the net profit of the Bank totaled 259 mln AMD ($0.7 mln). As compared to 2009, the net profit of the bank grew almost 5 times and rose from the negative level to the positive one.
As of 1 Jan 2012, the total capital of BTA Bank amounted to 5.5 bln AMD (5% y-o-y growth). The slow growth of this index is conditioned by the accumulated loss, which declined by 20% in 2011, and by 25% as compared to 2009. To note, as of 1 Jan 2012, BTA Bank (Armenia) had 7 branches, 6 of them in Yerevan, and 1- in the region.
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