YEREVAN, January 24. /ARKA/. The aggregate assets of 17 commercial banks operating now in Armenia grew by 16.5% in 2016 to 4.049.8 trillion drams. Similarly, the banks’ lending last year increased by 20.1% to 2.538.5 trillion drams.
According to the ranking of the banks by size of their assets, compiled by ARKA news agency, the top five largest banks were Ameriabank, Ardshinbank, Armbusinessbank, ACBA-CREDIT AGRICOLE BANK and Anelik Bank. Together they accounted for 54.2% of the total assets of all 17 banks. In terms of money the figure was worth 2.194.7 trillion drams.
Of 17 operating banks 14 banks increased their assets. The largest growth was reported by Anelik Bank, whose assets actually tripled. It was followed by Araratbank, up 63.3% and Byblos Bank Armenia – 61% growth.
The largest decline were posted by VTB Bank (Armenia) (25.01%) and HSBC Bank Armenia (21.6%).
The decision of the Central Bank of Armenia to raise the statutory capital of the banks from 5 billion drams to 30 billion drams, effective from January 1, 2017, prompted mergers and acquisitions. As a result, of 21 banks there remain now 17.
The ranking is compiled based on ARKA news agency’s bulletin “Banks of Armenia.” To purchase this bulletin and other information products of the news agency, please contact the marketing department (e-mail: [email protected]). -0-
