Saturday, November 13 2010 16:59
Personal deposits with Armenian commercial banks grew 34% over year to $1 billion as of October 1 2010
ArmInfo. Personal deposits with Armenian commercial banks grew 6.3% for Q3 2010 (versus almost 4% decline for Q2 2010 and 20.3% growth for Q3 2009) and totaled 368.9 billion drams ($1 billion) as of September 30 2010. This indicator grew 34% over year after 22% devaluation of the national dram on March 3 2009, which boosted deposits in terms of the dram.
Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says nearly 40% of personal deposits was the share of three banks: HSBC Bank Armenia, Unibank, and Ardshininvestbank. In fact, the share of top five banks is almost 60%. The lowest share of personal deposits in total belongs to BTA Bank Armenia - 0.3%.
HSBC Bank Armenia ensured the highest volume of personal deposits (call liabilities and time deposits) as of Sept 30 2010 - 67.1 billion drams ($185.8 million). The shares of call liabilities and time deposits in this amount were almost equal. Unibank was ranked the second with 43.7 billion drams or $121 million (the share of time deposits was the biggest). Ardshininvestbank was the third (32.4 billion drams or $89.8 million (mostly time deposits). ACBA-Creidt Agricole Bank was the 4th with 32 billion drams or 488.6 million (mostly time deposits) and VTB-Armenia was the 5th with 30.6 billion drams or 484.7 million (mostly time deposits). Top ten leaders comprised also Armbusinessbank - 27 billion drams (mostly time deposits), Ameriabank - 25.2 billion drams (mostly time deposits), Converse Bank - 20.4 billion drams (mostly time deposits), Armeconombank - 11.8 billion drams (almost equal shares of call liabilities and time deposits), and Inecobank - 11.6 billion drams (mostly time deposits). HSBC Bank Armenia was the leader in terms of the share of personal deposits in total liabilities as of Sept 30 2010 - 64%. Armenian Development Bank was the second - 48.4% and Unibank was the third - 47%. The shares of call liabilities and time deposits with HSBC Bank Armenia were almost equal, whereas the portfolios of Unibank and ADB were concentrated on time deposits. Out of the above top ten banks, Ameriabank was the one to ensure significant growth for Q3 2010 versus the same period of 2009 - almost threefold. A total of 20 banks ensured annual growth of personal deposits. Twenty banks ensured annual growth of this indicator for Q3 2010 alone.
Ameriabank ensured the highest annual growth of personal deposits (3fold, 7th position in terms of absolute measure). Prometey Bank was the only bank to suffer annual decline (23%, 19th position in terms of absolute measure).
Prometey bank ensured the highest growth of personal deposits for Q3 2010 - 47.1% (19th position in terms of absolute measure) whereas Converse Bank was the one to suffered decline - 0.4% (8th position in terms of absolute measure). In mid-June 2010 the merger of Cascade Bank and Ameriabank was completed and the united bank operated with single brand Ameriabank.
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