ArmInfo. Armbusinessbank was assigned the status of an agent of the primary government bonds market of Armenia. As reported by ArmInfo in the RA Ministry of Finance, the decision to include Armbusinessbank in the list of agents was adopted on November 15, 2019.
According to this decision, Armbusinessbank will act as an agent in the primary government bond market from 2020.
According to the Ministry of Finance of the Republic of Armenia, the agents of the primary government bonds market according to the list for 2020 are 7 banks: Ameriabank, IDBank, ARARATBANK, Ardshinbank, Converse Bank, Armbusinessbank and Armeconombank. On a quarterly basis (from October 1 of the previous year to October 1 of the reporting year), the Ministry of Finance evaluates the behavior of government securities market participants (agents and potential participants - investors), and assigns the status of agents to those participants who were active in their operations and stable participation. Thus, during the aforementioned period, Armbusinessbank, very actively proving itself in operations with government bonds, entered the list of agents of the primary government securities market.
According to the Financial Rating of the Banks of Armenia prepared by ArmInfo IC as of September 30, 2019, Armbusinessbank is in the TOP-5 by the volume of investments in government bonds - 39.9 billion drams, ensuring the growth of this indicator by almost 20% over 9 months of the current year. Armbusinessbank's income from trading operations amounted to 4.3 billion drams in 9 months of this year (a y-o-y growth of almost 3-fold), of which over 2 billion drams were provided from operations with government bonds. The bank's net income from trading operations increased almost 3-fold year-on-year, and an impressive part of this growth came from operations with government bonds. According to the results of 9 months, the net profit of Armbusinessbank exceeded 3.4 billion drams, with a y-o-y growth of 60.8%. (The calculated exchange rate of the dram on September 30, 2019 was 475.97 AMD / $ 1).