Total capital of Armenian banks increased by 5.1% to 335.1 billion drams in the first quarter of 2011

Banks

YEREVAN, May 5. /АRКА/. Total capital of Armenian banks increased by about 16.1 billion drams or 5.1% in the first quarter of 2011 making 335.1 billion drams as of March 31, 2011, Review of CBA on the activity of Armenian banks for the 1st quarter of 2011 reports.

Actually completed charter capital of Armenian banking system increased by 3.5% (or 7.2 billion drams) making about 211 billion drams. Participation of non-residents in the capital of Armenian banks increased by 4.8% making about 158.2 billion drams. The share of non-residents is 75% of all charter capital of the banking system of the country vs. 74% at the beginning of the quarter.

As of March 31, the amount of general reserve in the capital of banks was 15.3 billion drams, increased by 1.6% in the 1st quarter. The volume of accumulated income to the capital of the commercial banks was about 90 billion drams at the end of March vs. 81.8 billion drams at the beginning of the quarter. The income of this period was 8.2 billion drams.

There were 21 banks and 411 branches as of March 31, 2011 operating in Armenia. ($1 – 372.79 drams). -0-

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