Saturday, April 13 2013 18:54
Central Bank's own capital fell in 2012 following 17% deepening of accumulated loss
ArmInfo. Armenian Central Bank's own capital fell from 298.4 mln in 2012 to negative 20.6 bln drams ($51 mln) following deepening of the accumulated loss by 17% to 144.4 billion drams ($357.8 mln). In the first half of the year, the accumulated loss of the CB fell 10%. Afterwards, this indicator deepened by 3.6% for Q3, 25.5% for Q4. To recall, due to the government bill of exchange, the own capital of the CB was increased in early 2012 from the negative to positive level till October 1.
By data of the CB provided to ArmInfo, additional statutory capital that was increased in 2011 from 85.7 bln to 107.5 bln drams due to the state non-interest bearing bill of exchange on demand was left unchanged in 2012. The main reserve and the issue capital were left unchanged as well - 17.4 bln drams and 100 mln drams, respectively. Revaluation reserve of the assets eligible for sale fell from 1.219 bln to 1.182 bln drams.
The source reports that total assets of the CB grew 9.1% in 2012 to $2.874 bln or 1.160 trillion drams, with 67.5% or 783.3 bln drams ($1.9 bln) being foreign exchange assets and 32.5% or 376.4 bln drams ($932.8 mln) being drams assets. For the year under review, foreign exchange assets fell 2.2%, amid 23.5% growth of drams assets. General obligations grew 6.7% to 1.180 trillion drams ($2.925 bln), with the share of foreign exchange obligations being 37.7% or 445.1 bln drams ($1.1 bln) and dram obligations being 62.3% or 735.2 bln drams ($1.8 mln).
Dram obligations grew 13.1% for 2012 amid 2.3% decline of foreign exchange obligations. Foreign exchange assets suffered decline 2012 following reduction of other assets (nearly 60fold) and funds placed with IMF (8.6%), and financial instruments calculated by the real cost (20.7%). In foreign exchange assets, disposable funds grew 18%, loans to banks and other financial organizations - 5.2%, and the assets stored till maturity - 34.9%. In the dram assets, all items grew, except the assets stored till maturity (22fold decline) and other assets (2fold).
In the structure of obligation in the foreign exchange component, balance of deposits and current accounts of financial organizations fell 15,7%, commitments to the government - 32%, commitments to the IMF - 2.4%. In the national currency component all items except other liabilities grew. The commitments to the government grew nearly by 40% and the issued bonds - nearly by 50%.
By the verified final data of the Armenian CB, accumulated loss for 2011 totaled 123.5 bln drams. Due to it, capital stock totaled 298.4 mln drams, assets totaled 1.106 trillion drams as of Jan 1 2012, including 801.2 bln drams foreign exchange assets and 650.1 bln drams national currency assets. To recall, the decision to provide the CB with a bill of exchange in the amount of 77.513 bln drams to cover the accumulated loss (for 2012 - 123.968 bln drams, for 2011 - 123.504 bln drams, or $320 mln) was adopted by the on August 18 2011.
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