Thursday, November 21 2013 17:35

HSBC Bank Armenia, Ameriabank and Ardshininvestbank have the biggest net profits in Armenia's banking sector


ArmInfo. HSBC Bank Armenia, Ameriabank and Ardshininvestbank registered the biggest net profits in Armenia's banking sector in Jan-Sept 2013 - 6.4bln AMD ($15.8mln), 4.6bln AMD ($11.4mln) and 4.1bln AMD ($10.2mln), respectively.

According to ArmInfo's Rating of Banks of Armenia, the top five in ROA are INECOBANK - 4.23%, HSBC Bank Armenia - 3.79%, ArmSwissbank - 3.39%, Araratbank - 2.75% and Ardshininvestbank - 2.58%.

The top five in ROE are INECOBANK - 25.68%, HSBC Bank Armenia - 21.78%, Araratbank - 18.06%, Ameriabank - 16.07% and VTB Bank (Armenia) - 15.56%.

In Jan-Sept 2013 the retained profit of Armenia's banks made up 35.3bln AMD or $87mln (21% more than in Q3 2012 and 18.4% more than in Q2 2013). During the period 18 banks registered a total profit of 36.7bln AMD, with 3 banks recording a total loss of 1.4bln AMD. 14 banks registered a drop in retained profit, with the biggest drop recorded by Byblos Bank Armenia. Armeconombank registered the biggest growth in the index (5 times). As a result, its credit portfolio grew by 26.8%.

The total capital grew by 10.2% in Jan-Sept 2013, by 13.1% as compared with Q3 2013 and by 4.2% as compared with Q2 2013 to 444.9bln AMD or $1.1bln. The growth was due to a 3.2% increase in the authorized capital.

The top five in the index are ACBA-Credit Agricole Bank - 52.9bln AMD (12.3% annual growth), HSBC Bank Armenia - 41.2bln AMD (16.5% growth), Ardshininvestbank - 40.4bln AMD (16.4% growth), Ameriabank – 39bln AMD (8.7% growth) and VTB Bank (Armenia) - 35.6bln AMD (21.2% growth).

ACBA-Credit Agricole Bank registered the biggest authorized capital as of Oct 1 2013 - 30bln AMD, followed by Ameriabank - 25.5bln AMD, HSBC Bank Armenia - 18.4bln AMD, Armbusinessbank - 17.5bln AMD and Areximbank-Gazprombank Group - 16.5bln AMD.

The assets of the banks grew by 18.5% as compared with Q3 2012 and by 2.9% as compared with Q2 2013 to 2.7tln AMD or $6.7bln. The top five here are Ameriabank - 296.6bln AMD (22.8% annual growth), VTB Bank (Armenia) - 291.1bln AMD (56.3% growth), ACBA-Credit Agricole Bank - 263.9bln AMD (8.2% growth), Ardshininvestbank - 261.9bln AMD (34.1% growth) and HSBC Bank Armenia - 227.9bln AMD (10.3% growth).
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