Wednesday, February 21 2018 16:17
Karine Melikyan

INECOBANK announces AMD 7 billion profit for 2017, taking the first position by Return on Equity (ROE)

INECOBANK announces AMD 7 billion profit for 2017, taking the first position by Return on Equity (ROE)

ArmInfo."The success of the bank is continuous: due to the right strategy and its careful implementation, we have improvements almost in all positions. The most important achievement, of course, is the high level of profit. AMD 7 bln net profit ensured the first position by ROE in the system" said Chief Financial Officer Hayk Voskanyan.

In 2017 assets grew by 18% amounting AMD 278 bln. The growth of the loan portfolio and high liquidity assets was 8% and 30% respectively. Loan portfolio amounted AMD 173 bln, including:

- Retail loan portfolio amounted AMD 57 bln, increasing by 15.2% compared to 2016,

- Corporate loan portfolio amounted AMD 121 bln, increasing by 4% compared to 2016.

The ratio of liquid assets to total assets was 29%.

Liabilities increased by 19% over the beginning of the year, amounting AMD 230 bln. Customer deposits have increased by 28 percent; as a result, the share in total liabilities was 61%. By the end of 2017, customer deposits are AMD 141 bln, out of which 75% are from individuals.

"Efforts to increase effectiveness provides its continuous results. During 2017 cost/income ratio declined by 5.6 percentage points, reaching 34.2%.

Bank continues the active use of new technologies, which had its positive effect on various financial indicators. In 2017 we upgraded and improved credit scoring system and as a result our indicator of non-performing loans improved by 1.1 percentage points compared to previous year, the coverage ratio of non-performing loans increased to 62%.

We comply with all the prudential standards set by the Central Bank, ensuring also internal buffers. Equity of Inecobank by the end of 2017 totaled AMD 48 bln, which ensured 14.6% capital adequacy ratio, compared to 12% of the CBA requirement.

The Bank's indicators allow us to deal with all the unexpected developments in the market. "- added Hayk Voskanyan.

Net interest income, compared to year-end 2016, increased by 13.5% amounting AMD 15.7 bln. The amount of total operating income increased by 12.4%, reaching AMD 19.9 bln.

    Impairment loss improved by 9.6% amounting AMD 4.1 bln. As a result, credit risk improved by 0.5 percentage points amounting 2.4%.

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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