Tuesday, January 21 2014 20:00
ACBA-Credit Agricole Bank demonstrated biggest growth in accumulated profit among top 5 Armenian banks in 2013
ArmInfo. ACBA-Credit Agricole Bank demonstrated the biggest growth in accumulated profit among the top 5 Armenian banks in 2013 (by 46.5% to 15.4 bln AMD, which is more than 28% of the total capital of the Bank). By this index the Bank rose to the fourth position. According to ArmInfo's analysis based on the financial statement of the Bank, this became possible due to the fact that in 2013 the Bank's net profit grew by 24.4% to 5.1 bln AMD (4th position), of which 1.2 bln AMD was secured in Q4 2013.
In 2013, ACBA-Credit Agricole Bank held the second position in total revenues and total expenditures - 34.2 bln AMD and 27.3 bln AMD, respectively. As a result, the pretax profit amounted to 6.9 bln AMD. As compared with 2012, the Bank's total revenues grew by 15.5%, and total expenditures - by 13%, while the pretax profit rose by 26.4%.
In 2013, ACBA-Credit Agricole Bank's interest revenues were up 12.6% to 28.4 bln AMD, while interest expenditures rose by 21.8% to 13.4 bln AMD. The Bank's fee revenues grew by 20.8% to 2.9 bln AMD, and fee expenses rose by 44% to 1.2 bln AMD. The Bank increased the administrative expenses by almost 13%, while the operating expenses underwent almost no changes.
The Bank's assets were up 8.3% to 267.8 bln AMD. Lending grew by 6.4% to 169.5 bln AMD. Receivables from the banks and other financial organizations dropped by 8.7% to 26.4 bln AMD. In 2013 the Bank's total liabilities grew by 7.6% to 213.5 bln AMD. Payables to the customers amounted to 107.8 bln AMD (17.8% y-o-y growth) and payables to the banks and other financial organizations amounted to 102.9 bln AMD (with a slight y-o-y decline).
In 2013, the Bank's total capital grew by 11.1% to 54.3 bln AMD. The share of the authorized capital was over 55% (1st position by absolute terms - 30 bln AMD).
ACBA Credit Agricole Bank has been operating in Armenia since 1995. By its branch network the Bank holds the third position - 45 branches (38 of them in provinces of Armenia). By its main balance sheet indices, ACBA Credit Agricole Bank was among the top 5 Armenian banks in 2013.
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