YEREVAN, May 8. / ARKA /. Armenian banks’ investments in government bonds  stood at 173.7 billion drams in the first quarter (late March), which was 2.4% less than at the beginning of the year, according to the findings of a study made by ARKA news agency on the basis of their interim financial statements for the first quarter. The amount was equal to 7.2 percent of their total assets, down from 7.8% at the beginning of the year.

Their overall portfolio of securities on March 31 totaled about 179.7 billion drams, of which 96.66% were investments in government bonds.  The leading bank by size of investments in securities was HSBC Bank Armenia - 34.5 billion drams, of which more than 34.1 billion drams or 98.86% were investments in government bonds. Some 1.14% of its securities portfolio or 392.3 million drams were corporate securities. In the first quarter the bank earned 829.3 million drams as interest income from investments in securities. The figure represented 20.4% of its total interest income.
Next was Armbusinessbank -19.2 billion drams with 99.66% being investments in government bonds. It earned 290.7 million drams as interest income from investments in bonds - 6.5% of its total interest income.

Other leading bank was Armswissbank - 19.1 billion drams (of which 95.89% were investments in government bonds). There are 21 commercial banks in Armenia running 465 branches. ($ 1 - 415.25 drams). -0-