YEREVAN, January 27. /ARKA/. The total capital of 17 commercial banks operating in Armenia in 2016 grew by 20% to 648.5 billion drams. The top five largest banks in terms of capital size were Ameriabank, ACBA-CREDIT AGRICOLE BANK, Ardshinbank, HSBC Bank Armenia and Inecobank. Together they accounted for about 41.1% (266.6 billion drams) of the total capital of the banking system.
Of 17 banks 15 increased their capital last year. The largest replenishment was reported by Byblos Bank Armenia, whose capital increased by four times to 21.8 billion drams (17th position in the ranking).
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-
