YEREVAN, November 4. / ARKA /. In the third quarter of 2011 the aggregate assets of Armenia-based banks increased by 7.1% (OR 125.9 billion drams) from the previous quarter to 1889.3 billion drams. The rise from the beginning of the year amounted to 21.65%, according to an analysis made by ARKA news agency on the basis of banks’ financial and other reports.
The leading bank by size of assets was ACBA-Credit Agricole Bank. On September 30 its assets stood at about 206.6 billion drams, having increased by 7.21% in the quarter. This bank accounted for 11% of all assets of all banks.
The list of leaders included also Ameriabank with more than 190.7 billion drams of assets, HSBC Bank Armenia with 173.8 billion drams, Bank VTB (Armenia) with 161.8 billion drams and Armbusinessbank with 149.4 billion drams worth assets.
The leader in terms of assets growth in the third quarter was Converse Bank that posted a 71.9% increase to 58.4 billion drams, HSBC Bank Armenia said its assets grew in the third quarter by 11.99% to 18.6 billion drams; Prometey bank’s assets grew by 9.39% to 3.1 billion drams, Ameriabank’s assets saw a 7.49% rise to 13.3 billion drams and those of ACBA-Credit Agricole Bank upped by 7.21% to 13.9 billion drams.
There are 21 commercial banks in Armenia operating 425 branches. ($1 – 378.98 AMD). -0-
