YEREVAN, November 7. /ARKA/. The equity capital of Armenia-based banks in the third quarter of 2011 grew by 9.65% from the beginning of the year to about 361.2 billion drams.
The authorized capital of banks increased by 11.1% to about 227.6 billion drams, and their retained earnings rose by almost 7.3% to 102.4 billion drams, according to banks’ interim financial reports for the third quarter of 2011.
The leader in terms of equity capital size was ACBA Credit Agricole Bank with 43.8 billion drams, accounting for 12.12% of the total amount of equity capital of all banks. Its authorized capital stood at 31.2 billion drams or 13.71% of the aggregate authorized capital of all banks and its retained earnings stood at 5 billion drams making 4.9% of the retained earnings of all banks.
The list of five leading banks in terms of equity capital size included also Ameriabank (AMD 33.5 billion), Ardshininvestbank (AMD 30.7 billion), Bank VTB (Armenia) (29.8 billion drams), and HSBC Bank Armenia (28.9 billion drams). There are 21 commercial banks in Armenia with 425 branches. ($1 – 379.35 AMD). -0-
