Tuesday, February 25 2014 14:10
In 2013 personal deposits in Armenian banks grew by 22.4% to $2.2 bln
ArmInfo. In Q4 2013 personal deposits in Armenian banks accelerated their growth rates from 4.1% to 6.4% (against 8.7% growth in Q4 2012). In 2013 personal deposits rose by 22.4% as compared with 2012 (against 33.4% y-o-y growth in 2012) to 912.6 bln AMD ($2.2 bln) by 1 Jan 2014. As compared with 2009, this index grew almost threefold: 22% AMD devaluation was registered on 3 March 2009, which resulted in considerable rise in AMD deposits.
According to the Analysis and Financial Rating of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo), in 2013 the time deposits of individuals grew by 23.7%, while the call deposits rose by 17.2% as compared with 2012. In Q4 2013 versus Q4 2012 the individuals' time deposits rose by 5.4%, while the call deposits replaced their 1.4% decline by 11.3% growth. It is noteworthy that since the second half of 2010 most banks have raised the deposit rates, but that process stopped in 2013 and this could not help affecting the growth rates of time deposits.
As of 1 Jan 2014, the biggest amount personal deposits was registered in HSBC Bank Armenia, which secured the summary personal deposits (call liabilities and time deposits) at 99.690 bln AMD ($245.8 mln). Time deposits made up 56.1%, with the call liabilities dropping to 43.9%. VTB Bank (Armenia) was the second with 99.668 bln AMD or $245.7 mln (85% time deposits). Unibank was the third with 85.1 bln AMD or $209.7 mln (92% time deposits). Ameriabank was the fourth with 82.3 bln AMD or $203 mln (over 82% time deposits). Ardshininvestbank was the fifth with 80.1 bln AMD or $197.4 mln (almost 89% time deposits). The sixth position belongs to ArmBusinessBank (69.1 bln AMD), which is followed by ACBA-Credit Agricole Bank (65.7 bln AMD, 7th position), Converse Bank (45.8 bln AMD, 8th position), Armenian Development Bank (43.3 bln AMD, 9th position), and Areximbank-Gazrpombank Group (34.6 bln AMD, 10th position), with their time deposits prevailing over call deposits.
As of 1 January 2014, Armenian Development Bank had the biggest share of personal deposits in the total liabilities (71.1%). Unibank held the second position (64%). The following banks ranked next: Byblos Bank Armenia (62.4%), BTA Bank (61.8%), Anelik Bank (58.5%) and HSBC Bank Armenia (47.9%). In the specified top ten, Armenian Development Bank, Ameriabank and VTB Bank (Armenia) demonstrated a considerable y-o-y rise (41-49%), but this is not the biggest growth rate of this parameter in the banking system.
The top five had 49% of personal deposits, with over 31% of them registered in HSBC Bank Armenia (10.9%), VTB Bank (Armenia) (10.9%) and Unibank (9.3%). The smallest share of personal deposits remained in Mellat Bank (0.1%).
Only 2 out of the 21 banks in Armenia demonstrated y-o-y and quarterly decline in personal deposits. The biggest reduction was fixed in Mellat Bank (by 12-34%) due to 35.6% decline in time deposits (that belong to non-resident individuals only) and 34.1% decline in call deposits (belonging to non-resident individuals only). In 2013 BTA Bank demonstrated the biggest y-o-y growth in personal deposits (by 92%, 20th position in absolute terms); it redoubled the time deposits and increased the call deposits of individuals by 26%. In Q4 2013 the biggest rise in personal deposits was registered in Prometey Bank (by 16.7%) due to 23.8% rise in call deposits amid 15.2% growth in time deposits as compared with Q3 2012. The second by quarterly growth rates was BTA Bank (by 14%) mostly due to 17.2% growth in time deposits.
To note, since Q4 2012 Anelik Bank has been publishing its statements without the data of Moscow-based Anelik Ru. In October 2013 the majority shareholder of Anelik Bank, Credit Bank S.A.L (Lebanon), became the sole owner of the Bank and received the right to possession of Anelik Ru as well.
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