YEREVAN, August 14. /ARKA/. Repo agreements (repurchasing agreements) of Armenia’s commercial banks valued at 37.6 billion drams in the second quarter, which was 1.9% higher from Q1 2013.
According to an analysis by ARKA, Armbusinessbank tops the list of banks with highest volume of repo agreements. Its repo agreements accounted for nearly 34.07% of all repo operations made by the Armenian banks. As of the end of June 2013, the bank’s repo agreements valued at 12.8 billion drams, which was 10.7% higher from the first quarter.
Armbusinessbank is followed by VTB Bank (Armenia) –4.7 billion drams, up by 1.2% (12.59% share in overall volume of banks’ repo operations), Artsakhbank– 3.9 bln drams, up by 11.3% (10.48%), Bank Prometey – 2.5 billion drams, down by 26% (6.67%) and HSBC Bank Armenia– 2.5 bln drams, down by 17.5% (6.58% share).
In general, during the reported period, 13 out of 21 banks made repo operations, as compared to 14 banks in the first quarter.
As of 30 June 2013 there were 21 banks with 478 branches in Armenia. ($1=407.13drams). –0–
