YEREVAN, February 15. /ARKA/. The total assets of 21 commercial banks in Armenia grew by 4.67% in 2015 to 3.548.1 trillion drams, according to ARKA news agency’s latest ranking of Armenian banks by size of assets. In 2015 the banks’ overall lending grew by only 0.69% to 2.182.2 trillion drams, down from 21.2% growth in 2014.
It should be noted that since 2003 the assets of Armenian banks showed double-digit growth rates – from 20 to 40 percent annually.
The top five banks in 2015 in terms of assets size were Ameriabank, Ardshinbank, VTB Bank (Armenia), Armbusinessbank and HSBC Bank Armenia, which boasted 51.16% of the total assets or 1.815.5 trillion drams.
Ameriabank’s assets in 2015 stood at 515.8 billion drams, having increased by 29% from 2014. This bank accounted for 14.5% of the total assets of all 21 banks. Ardshinbank, which accounted for 11.3% of all assets, had 401.7 billion drams worth assets, a 9.6% rise form the previous year.
VTB Bank (Armenia) accounted for 8.9% of the total assets. Last year it saw its assets increase by 12.5% to about 315.8 billion drams.
ArmBusinessBank’s assets grew last year by 13.85% to 306.6 billion drams. It accounted for 8.6% of all assets. And HSBC Bank Armenia, which accounted for 7.76% of the total, saw its assets decrease by 10.18% to 275.4 billion drams.
Of 21 banks 11 banks increased their assets in 2015. The largest growth of 48% was reported by Inecobank after it acquired the shares of ProCredit Bank. After the transaction its assets grew to 236.6 billion drams.
At the same time the largest decline of 25.57% was showed by Byblos Bank Armenia. Its assets fell to 39.7 billion drams.
The ranking was compiled based on ARKA’s quarterly bulletin ‘Banks of Armenia.” For purchase of this bulletin and other information products of the new agency, please contact the marketing department (e-mail: [email protected]). -0-
