Saturday, August 24 2013 12:30
Growth in accumulated loss results in drop in Central Bank's own capital
ArmInfo. A 2.8% growth in the accumulated loss of the Central Bank of Armenia in Q2 2013 resulted in a 18.1% drop in the bank's own capital.
According to the CB, in Jan-June 2013 the accumulated loss grew by 2.3% to 149.4bln AMD, with the own capital dropping by 15%. In Q2 2013 as compared with Q2 2012 the accumulated loss grew by 34.5% causing fourfold decrease in the own capital.
Increased in 2011 from 85.7bln AMD to 107.5bln AMD due to a state ordinary non-interest sight draft, the CB's authorized capital stayed unchanged in Jan-June 2013. The issued capital did not change either making up 100mln AMD. The saleable asset revaluation reserve dropped by 16.7% to 1.045bln AMD.
In Jan-June 2013 the assets dropped by 4% to 1.109tln AMD or $2.706bln. The share of foreign exchange assets therein make up 65% or 719.6bln AMD ($1.8bln), with the share of AMD assets making up 35% or 389.7bln AMD ($950.7mln). In Q2 2013 as compared with Q2 2012 the foreign exchange assets dropped by 7.5%, while the AMD ones grew by 22.2%.
In Jan-June 2013 the obligations dropped by 3.6% to 1.135tln AMD or $2.768bln. The share of foreign exchange obligations grew to 39.1% to 443.3bln AMD or $1.1bln, with the share of AMD obligations dropping to 60.9% or 691.5bln AMD or $1.7bln.
Aug 18 the Government provided the CB with a 77.513bln AMD sight draft so it could cover its 123.968bln AMD loss accumulated in 2010 and 123.504bln AMD loss accumulated in 2011. In Jan-June 2012 the loss was reduced by 10% but in July-Dec 2012 it grew again.
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