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HSBC Bank, Converse Bank, Ardshininvestbank Record Largest Net H1/04

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  • HSBC Bank, Converse Bank, Ardshininvestbank Record Largest Net H1/04

    HSBC BANK ARMENIA, CONVERSE BANK AND ARDSHININVESTBANK HAD LARGEST
    LEVEL OF NET PROFIT DURING FIRST HALF OF 2004


    YEREVAN, AUGUST 3. ARMINFO. HSBC Bank Armenia, Converse Bank and
    Ardshininvestbank had the largest level of net profit during the first
    half of 2004 - 964.9 mln drams, 852.9 mln drams and 551.9 mln drams
    respectively. According to the ranking of commercial banks of Armenia
    formed by specialists of ARMINFO on the basis of financial reports of
    commercial banks and data provided by the banks, Armeconombank ranks
    the fourth as regards this showing - 526.6 mln drams, and the
    Armsavingsbank ranks the fifth - 417.7 mln drams. At the same time as
    regards the level of efficiency of investments the INECOBANK is in the
    lead, then follow the Converse Bank, Armeconombank, Ardshininvestbank,
    Anelik Bank, ACBA and Unibank.

    Thus, the share of net profit in the assets (ROA) of the INECOBANK
    totaled 4.21%, of the Converse Bank - 2.78%, Armeconombank 2.43%,
    Ardshininvestbank 2.06%, Anelik Bank 2.02%, ACBA 1.74% and Unibank
    1.45%. The Converse Bank is in the lead as regards the showing of net
    profit in the capital (ROE) - 21.49%, then follow HSBC Bank Armenia -
    17.91%, INECOBANK 17.59%, Armeconombank 15.37%, Armsavingsbank 13.51%,
    Ardshininvestbank 13.14%, Anelik Bank 12.23% and Artsakhbank
    8.78%. Noteworthy, the indices of the Anelik bank include the data of
    the Moscow branch, which was reorganized to Daughter Bank Anelik RU in
    Dec 2003.

    Total net surplus of the banking system of Armenia was 4.320 bln drams
    during the first half of 2004. According to data of 19 banks, 16 banks
    had worked with profit, their total net surplus was 5.020 bln drams. 3
    banks completed the accounting period with losses, which totaled
    699.287 mln drams.

    During the first half of 2004 the total capital of the banking system
    grew by 11.4% - from 50.024 bln drams to 55.729 bln drams. In this
    period, as regards the showing of replenishment of the total capital
    the Armenian Development Bank is in the lead (40.18%), then follow
    Areximbank (39.89%), Armsavingsbank (19.11%), Converse Bank (17.59%)
    and INECOBANK (16.04%).

    During the first half of 2004 assets of the banking system increased
    by 11.19% - from 287.2 bln drams to 319.3 bln drams, which was
    accounted for by the growth of provision of crediting and investments
    in STBs. Volume of real provision of crediting increased by 14.17% -
    from 125.0 bln drams to 142.7 bln drams, making up 44.69% out of the
    assets. By July 1, 2004 the share of the credits to legal entities
    made up 54.13% in total provision of crediting or 77.3 bln drams,
    increasing by 13.54% during the first half of 2004. The largest level
    of crediting of legal entities has been provided by the Armsavingsbank
    - 11.3 bln drams, Converse Bank 10.8 bln drams, Ardshininvestbank 8.6
    bln drams, Artsakhbank 5.7 bln drams, Armimpexbank 5.1 bln drams ACBA
    4.5 bln drams, Anelik Bank 4.2 bln drams, Armeconombank 4.1 bln drams
    and ADB 3.1 bln drams. As regards the volume of crediting to natural
    persons the ACBA is in the lead (9.6 bln drams), Ardshininvestbank
    ranks the second (5.9 bln drams) and Armeconombank (5.7 bln drams). In
    the structure of assets during the first half the volume of funds in
    correspondent accounts in the banks decreased - from 68.6 bln drams to
    68.1 bln drams, the share of which int he assets decreased from 23.9%
    to 21.3%.

    In Jan-June the investments in state loan bonds increased by 16.82%,
    reaching 36.5 bln drams by July 1, 2004. The most growth were provided
    by the Armsavingsbank (196.51%), Anelik Bank (143.66%), Unibank
    (94.11%), ACBA (85.32%) and Ardshininvestbank (66.78%). By the way, 6
    banks out of 19 reduced their investments in state securities in the
    period under review, in particular, Areximbank reduced by 88.99%,
    Arminvestbank - by 75.98%, ADB 36.5%, Converse Bank 14.59%, ITB 10.2%
    and Mellat bank - 3.27%.

    According to the data of 19 banks of the country, total liabilities of
    the banking system, increasing by 11.15% reached 263.6 bln drams by
    July 1, 2004. In their structure fixed deposits increased by 4.64%,
    totalling 84.1 bln drams or 31.88% in total liabilities.

    The share of the total capital of the banking system in GDP (600 bln
    drams - by July 1, 2004) totaled 9% (55.7 bln drams), the assets- 53%
    (319.3 bln drams), and the volume of provision of crediting - 24%
    (142.7 bln drams). By Jan 1, 2004 these indices made up 3%, 18% and 8%
    respectively.
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