Tuesday, February 25 2014 15:19
Assets of the banking system of Armenia grow by 22,8% up to $7.3 billion for 2013
Arminfo. The assets of the banking system of Armenia for the 4Q 2013 grew from 3% up to 8,1% (versus the 4Q 2012 - from 4,5% up to 5,1%), and by 22,8% for 2013 versus 18% for 2012, and by 31 December 2013 amounted to 2.9 trillion AMD ($7.3 bln). The growth of assets is conditioned by the growth of the credit exposure by 14,4%, of investment in government bonds - by 23,3%, of funds on nostro-accounts - by 36,5% and of cash - by 14%.
According to the Analysis and Financial Rating of Armenian Banks, prepared by Arminfo, the quarter growth (4Q 2013) of assets of the banking system is conditioned by raising of the credit portfolio growth rates from 0,6% up to 3,8% (versus raising of the growth rates from 0,9% up to 3,5% for the 4Q 2012). It is also conditioned by the growth of investments in government bonds by 12,9% (versus decrease by 1,9% for the 3Q and increase from 6,3% up to 9,6% for the 4Q 2012). It is also conditioned by the growth of cash from 3,1% up to 12,9% (versus decrease of the growth rates for the 4Q 2012 from 11,2% to 4,6%), against the background of which we have decrease of funds on nostro-accounts from 12,2% to 12,7% (versus changing of 42,2% growth by the 21% falling for the 4Q 2012).
The share of the credit exposure in the structure of assets decreased from 65,7% to 63,1% (versus decrease from 68,2% to 67,2% for the 4Q 2012). The share of investments in government bonds grew from 6,2% to 7,1% (versus the growth from 6,5% up to 6,8% for the 4Q 2012). The share of cash grew from 3,5% up to 4% (versus 4% for the 4Q 2012). The share of funds on nostro-accounts decreased from 4,9% to 3,9% (versus 3,6% for the 4Q 2012).
According to Arminfo experts, the dynamics of these indices changing is evidence of the fact that the crediting rates for the reported period were backed mainly at the expense of the funds of international credit programmes, along with which the funds on nostro-accounts, cash funds and the funds from sale of the trade portfolios of the state bonds were also used. Incidentally, if earlier almost all the banks preferred to direct credits to economy, since 2012 only several banks go on putting stress on crediting of economy. Major part of the banks concentrated attention on crediting of individual persons. However, here we have also noticed slowing down of the growth rates. Perhaps, this is the reason why the banks directed free funds to the state bonds and replenished trade portfolios.
As of 31 December 2013, Ameriabank is the leader by the size of assets. VTB Bank (Armenia) is the second, Ardshininvestbank - the third, ACBA-Credit Agricole Bank - the forth and HSBC Ѓ Є Armenia - the fifth. The share of the aggregate assets of these five banks in the banking system is about 50%, as more than 49% of the aggregate credit portfolio is concentrated just in these banks.
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