Mon, 25 August
30.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Armenian banks’ reserves for possible losses on loans grew by 11.7% to 93.5 billion drams

YEREVAN, August 17. /ARKA/. In the second quarter of 2016 Armenia’s commercial banks increased their reserves for possible losses on loans by 9.7 billion drams or 11.7% to 93.5 billion drams. According to ARKA news agency’s bulletin “Banks of Armenia”, these reserves grew by 3.89% from the beginning of the year.

The leading five banks by size of reserves for possible losses on loans were Areximbank-Gazprombank Group, VTB Bank (Armenia), ACBA-CREDIT AGRICOLE BANK, Ameriabank and HSBC Bank Armenia.

Areximbank-Gazprombank Group’s reserves stood at the end of June at 18.7 billion drams, having increased 2.5 times from the first quarter, however, when compared to the beginning of the year they were down 5.6%.

VTB Bank (Armenia) reserves grew by 5.56% from the beginning of the year and 7% from the first quarter to 13.9 billion drams. ACBA-CREDIT AGRICOLE BANK’s reserves stood at 7.7 billion drams, a decline of 14.7% from the first quarter and an increase of 14.23% from the beginning of the year.

Ameriabank’s reserves grew by 20.4% from the first quarter and 26.8% from the beginning of the year to 6.8 billion drams and HSBC Bank Armenia’s reserves declined by 0.16% from the first quarter and surged by 19.65% from the beginning of the year to 6.3 billion drams.

In the second quarter the share of these reserves in the loan portfolios of the banks grew by 4.2%. Areximbank-Gazprombank Group had the highest share of reserves in the loan portfolio (47%). It was followed by Byblos Bank Armenia (22%), BTA Bank (11.6%), VTB Bank (Armenia) (8.3%) and the Armenian Development Bank (5.7%).

Also the combined credit portfolio of all 20 Armenian banks at the end of June 2016 stood at 2.194.1 trillion drams, having increased by 3.4% from the beginning of the year. -0-

spot_img

POPULAR

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Unibank Issued Preferred Shares with a Fixed Annual Dividend of 12%

Unibank announces a new issue of Class “G” convertible preferred shares, offering investors a fixed annual dividend of 12%. The total issue volume amounts to AMD 1.5 billion.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img