Tuesday, January 30 2018 19:12
Karine Melikyan

Converse Bank increased its net profit by 2.3 times in 2017, bringing its main financial indicators to top five

Converse Bank increased its net profit by 2.3 times in 2017, bringing  its main financial indicators to top five

ArmInfo. Converse Bank by  liabilities to customers entered the TOP-5, closely bringing its top  financial indicators to the top five.

According to the  Express-Ranking of Armenian Banks, prepared by IC ArmInfo on the  basis of published financial reports, Converse Bank provided the  volume of term deposits and demand deposits to customers by 1 January  2018 at 173.9 billion AMD ($ 259.3 million, 4th position against the  previous 7th) with annual growth of 24.5%. Adequately, the Bank  increased the volume of credit investments by 38.9% to 165.2 billion  AMD ($ 341.2 million, 6th position against the previous 10th).

In the structure of assets, the Bank more significantly increased its  investments in securities in 2017 - by 78.8% - to 27 billion ($ 55.8  million), jumping from the 15th to the 9th position. This, coupled  with a serious increase in loan investments, allowed the Bank to  increase assets for the year 2017 by 32.3% - to 252.7 billion ($  522.1 million, jump to the 6th position from the previous 10th).

In the overall structure of Converse Bank's total liabilities, a  significant increase was registered in 2017 for loans from banks and  other financial organizations - by 98.2% - to 33.7 billion drams ($  69.6 million).  Along with this, the Bank, having launched its own  bonds in 2017, managed to attract 5.9 bln drams ($ 12.3 mln) from  their placement. In particular, in May-October 2017, the Bank issued  one dram tranche of bonds in the amount of 1 billion drams and two  dollars in total amount of $ 10 million, and all of them are quoted  in the main exchange list of "Abond".

As a result, in 2017, Converse Bank completed with a net profit of  3.6 billion drams ($ 7.5 million, 7th position) with annual growth of  2.3 times, due to which the accumulated profit increased by 29.6% to  12.9 billion drams ($ 26.7 million , 7th position), which in turn  increased the total capital by 11.9% to 36 billion drams ($ 74.4  million). The regulatory total capital of the bank as of January 1,  2018 was 36.03 billion drams, which is 12.1% higher than the level of  the previous year. The bank's capital adequacy ratio amounted to  16.96% at that date (with the required 12% min), the liquidity ratio  was 35.26% (with the required min 15%), the current liquidity ratio  was 102.49% (with the required min 60%).

Converse Bank's loan portfolio is diversified by economic sectors,  but the largest volumes fall on SMEs (about 15%) and the trade sector  (over 12%). However, if on corporate loans Converse Bank is still on  the way to the top five, then the retailer has already taken the 4th  position, with the dominant retail mortgage lending (about 40%)  holding the 2nd position. In the loan portfolio of the bank, the  share of corporate loans exceeds 55%, while retail loans account for  about 44%.

Converse Bank has been operating in the Armenian market since  September 1996. The shareholders of the bank are Advanced Global  Investments LLc (hands-Eduardo Ernekian) - 80.94%, HayPost Trust  Management B.V. - 14.06%, the Cathedral of the Mother See of  Etchmiadzin - 5%, and the indirect holder of 100% of shares is  Holding Company "Blakery Assets" LTD. The branch network of the bank  includes 34 units, of which 13 are located in Yerevan, 20 - in the  regions of Armenia and 1 in Artsakh.

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000