Friday, May 17 2013 16:37
Ardshininvestbank - the leader of banking market of Armenia on foreign currency operations profit
ArmInfo. Ardshininvestbank like one of the most active foreign dealers, still preserves leadership at the banking market of Armenia on foreign currency operations profit. The foreign currency profit of the bank for the 1Q 2013 - 346.3 mln drams, is evidence of that. This indicator is by 31% more versus the indicator of the 1Q 2012. For its part, the given growth provided the growth of profits of the bank by more than 46%, which against the background of low growth of expenses gave an opportunity to increase net profit much. So the profit of the bank grew almost fourfold - up to 1.1 bln drams. Thanks to this indicator, the bank has managed to jump from the ten leading banks to the three on this indicator, and almost to restore the pre-crisis level of profit.
According to the data of Financial Rating of Armenian Banks prepared by Arminfo, for several years, till the IV Q 2008 Ardshininvestbank was the leader on foreign currency operations profit. However, the world financial crisis and sharp devaluation of Armenian dram in March 2009 worsened financial results of the banks and the rotation of places happened in the leading five. But in a short period of time, by the results of 2009, Ardshininvestbank again occupied the leading position and was the leader till the 1Q 2013.
In general, in the banking system the net profit on foreign currency operations by the results of the 1Q 2013 amounted to 2,2 bln drams, by 5,1% more versus the 1Q 2012.
Ardshininvestbank occupies the leading positions in the leading five in other key financial indices too. In particular, corporative and retail crediting - 4 and 3 positions, with growth by more than 40%; state bonds investments - the 3rd position - growth by more than 20%. The bank is also one of the leaders on liabilities, in the structure of which it is within the TOP-5. The balanced activity of the bank in the context of increasing profits and an active policy on attraction of funds both from local as well as external markets made it possible to improve indicators of effectiveness - ROA and ROE making them closer to the pre-crisis level.
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