YEREVAN, February 1. /ARKA/. ARKA news agency has compiled a ranking of Armenia-based commercial banks by size of their assets as of December 31, 2011. The ranking will be updated quarterly. The ranking was topped by ACBA Credit Agricole Bank with a total of 218.6 billion drams worth assets, which accounted for 10.5% of the combined assets of all banks.

Ameriabank was second with assets standing at 201.4 billion drams. They made 9.7% of the aggregated assets of all banks.

Third in the list was Bank VTB (Armenia) with 182 billion drams assets (8.8%). Fourth was HSBC Bank Armenia with 179 billion drams worth assets. It accounted for 8.62% of the aggregate assets of the banking system. With 168.5 billion drams worth assets Armbusinessbank was fifth.

At the end of 2010 all 21 banks in Armenia had a total of 2.075.4 trillion drams worth assets, up from 1.553.1 trillion drams in 2010. The growth was 33.6%. The five largest banks accounted for 45.8% of the combined assets of all banks.

* thous. AMD

The ranking was compiled on the basis of the quarterly bulletin  by ARKA news agency "Banks of Armenia,” which offers more detailed information about all banking indicators. The bulletin  is compiled based on published financial statements of banks, as well as on additional information provided by banks. “Banks of Armenia" contains 60 pages of tabular information on bank performance and consists of 9 main sections, describing the banking system: 1. General characteristics. 2. Assets. 3. Commitments. 4. Capital. 5. Profits/losses 6. Information about cash flows. 7. The level of liquidity and capitalization. 8. Standard indicators of risk. 9. Profitability of banks.

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