Wednesday, August 14 2013 13:14
Total capital of Armenian banking system up 1.9% to $1 bln for Q2 2013
ArmInfo. Total capital of the Armenian banking system was up 1.9% for Q2 2013 and 11,7% year over year to 413.2 bln drams ($1 bln) as of July 1 2013. Statutory capital grew 7,5% year over year but was left unchanged in Q2 2013 totaling 243 bln drams ($592.8 mln). The share of foreign capital in statutory fund fell 0.3% for Q2 and grew 5.6% year over year to 177.8 bln drams ($433.7 mln) or 73.2% of total.
The Central Bank of Armenia told ArmInfo the share of accumulated profits in total capital of the banking system was nearly 29% or 118 bln drams ($288 mln) as of July 1 2013 (a 5% for the quarter and 22.6% growth for the year under review). Reserves grew 9.5% for Q2 and 10% year over year to 22 bln drams ($53.7 mln).
According to the Central Bank, general obligations of the banking system amounted 2.2 trillion drams on July 1 with a 2.9% growth for Q2 and 15.8% year over year growth. Total assets amounted 2.6 trillion drams with a 2.8% quarterly growth and 18.2% year over year growth.
As of July 1 2013, there were 22 operating banks in Armenia (inclusive of the PanArmenian Bank) and 477 braches (versus 476 no April 1 2013, 461 - on July 1 2012, and 479 on Jan 1 2013).
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