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.