Thursday, November 21 2013 17:34
In Q3 2013 accumulated profit of Armenia's banks grew by 8.2% to $379.9mln
ArmInfo. In Q3 2013 the accumulated profit of Armenia's banks grew by 8.2% to 153.9bln AMD ($379.9mln). As compared with Q3 2013 it grew by 33.3%, as compared with Q4 2012 by 25.1%.
According to the Financial Rating of Banks of Armenia, prepared by the Agency of Rating Marketing Information (ArmInfo), the share of the profit in the banks' total capital made up 34.6% (against 3.3% in Q2 2013 and 29.4% in Q3 2012).
18 banks registered a 157.4bln AMD or $388.4mln profit during the period, 3 banks recorded a 3.5bln AMD or $8.5mln loss.
HSBC Bank Armenia had the biggest accumulated profit in Q3 2013 - 21.1bln AMD or $52.1mln (33.7% annual and 7.7% quarterly growths). Ardshininvestbank was the 2nd with 20.1bln AMD or $49.6mln (32.4% annual and 11.5% quarterly growths), VTB Bank (Armenia) was the 3rd with 17.4bln AMD or $43.3mln (49% annual and 15% quarterly growths), ACBA- Credit Agricole Bank was the 4th with 14.4bln AMD or $35.4mln (52.1% annual and 11.5% quarterly growths), Ameriabank was the 5th with 13.4bln AMD or $33mln (28.5% annual growth and 1.4% quarterly drop).
The top five have 56.2% of the total accumulated profit of Armenia's banking system.
16 banks registered annual growth in accumulated profit during the period, with 15 recording quarterly growth in the index. The biggest annual growth was registered by Inecobank (twice as much as in Q3 2012, 6th rank), with the biggest quarterly growth recorded by Armbusinessbank (29.4%, up from the 16th to the 13th rank).
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