YEREVAN, February 8. /ARKA/. The aggregate assets of Armenian banking system grew 7.93% or by AMD 115.2 billion in the fourth quarter of 2010, reaching AMD 1567.5 billion by late December (16.74% growth since the beginning of the year).
ARKA News Agency’s analysis based on Armenian banks’ quarterly reports shows that ACBA-Credit Agricole Bank was the largest asset-owner among the country’s banks in the 4th Q 2010. The bank’s assets totaled AMD 168.2 billion in late December after shrinking 2.63% over the quarter. Its assets account for 10.73% of Armenian banks’ aggregate assets.
Ameriabank, with its assets exceeding AMD 153 billion, came second in ARKA News agency’s ranking (9.76% of the banking system’s total assets), and HSBC Bank Armenia, with AMD 144.9 billion (9.25%), ranked third.
VTB Bank (Armenia), with 127.4 billion (8.13%), and Ardshininvestbank, with AMD 119.1 billion (7.6%) are among leaders as well.
These five banks’ assets make up 45.5% of Armenian banking system’s assets.
Five other banks were singled out for the fastest asset growth – Araratbank built up its assets 49.18% over the quarter to AMD 63 billion, Byblos Bank Armenia enlarged assets by 30.27% to AMD 28.8 billion, Areximbank – Gazprombank Group by 19.68% to AMD 67.4 billion, ProCredit Bank by 18.74% to AMD 24.8 billion and Mellat bank by 18.28% to AMD 33.2 billion.
Some 21 commercial banks operate in Armenia now. ($1 = AMD 364.3). -0-
