Wednesday, November 14 2012 17:26
General obligations of Armenian banking system up 12.8% for 9 months of 2012
ArmInfo. General obligations of Armenian banking system were up 12.8% for 9 months of 2012 (versus 23.5% for the same period of 2011. The growth slackened for Q3 falling from 8.8% to 4.4% versus 8.3% for the same period of 2011.
This indicator grew 24.5% versus 9 months of 2011(34.7% annual growth in 2011) to 1.9 trillion drams ($4.7 bln) as of Sept 30 2012.
Ranking of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says in the structure of obligations time deposits grew 7.6%for Q3 2011 versus 6.6% growth for Q3 2011. Call liabilities grew 5.7% versus 16.4% growth for Q3 2011. Bank correspondent accounts (loro) grew 7.5% amid 0.2% decline of deposits and loans from banks and other financial organizations. Time deposits grew 40.4% for Q3 2012 versus Q3 2011, call liabilities grew 6.7 versus 27.7% annual growth in 2011, deposits and loans from banks and other financial organizations grew 14.4%, amid 3.4% decline of loro-accounts.
The annual dynamics of obligations showed that to retain lending in conditions of the ongoing crisis, the banks still raise funds from both the domestic and foreign sources and involve into international credit programs. More active involvement of banks into international programs makes it possible for them to raise long-term and inexpensive funds for further on-lending on attractive rates.
In the structure of general obligations time deposits made up over 42.7% as of Sept 30 2012. The share of call liabilities was 20.6%, with deposits and loans from banks and other financial organizations making up 28.5%. Bank correspondent accounts (loro) made up 0.8% of general obligations. For comparison, in the pre-crisis year 2007 the share of call liabilities in total was 35%, the share of time deposits was over 37%, deposits and loans from banks and other financial organizations - 11%. In 2008 these indicators were 25%, 33% and 20%, respectively. In 2009 these indicators were 26%, 41% and 24%, respectively, while in 2010 they made up 24%, 40% and 30% respectively.
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