YEREVAN, January 23. /ARKA/. The combined assets of 17 commercial banks operating in Armenia amounted to 4.362 trillion drams in 2017, having upped by 6.6 percent from the previous year, according to a ranking of Armenian banks by size of assets compiled by Arka news agency.
The top five largest banks in terms of assets were Ameriabank, Armbusinessbank, Ardshinbank, ACBA-CREDIT AGRICOLE BANK and Inecobank, which accounted for 55.8% of all assets or 2.4 trillion. drams.
The assets of Ameriabank, which has topped the list since 2013, dropped last year by 5.8% from 2016 to 677.7 billion drams, accounting for 15.5% of all the banking sector’s assets.
Armbusinessbank accounted for 13.1% of the total assets. The bank posted 574.9 billion drams worth assets, which increased by 42.17% from the previous year. Ardshinbank’s assets grew by 3.6% to 568.2 billion drams, accounting for about 13% of all the assets. ACBA-CREDIT AGRICOLE BANK’s assets in 2017 increased by 9.8% to 311 billion drams. The bank’s assets accounted for 7.1% of all the assets of the banking sector. Inecobank, whose assets accounted for 6.3% of the total, saw its assets grew by 17.6% to 277.8 billion drams.
According to Arka, 12 banks increased their assets in 2017. The highest growth was demonstrated by Armbusinessbank (42.17% growth), Byblos Bank Armenia (32.6%) and Conversbank (32.3%). At the same time, the largest decline in assets was reported by Anelikbank (53.3%).
The ranking was compiled based on Arka news agency’s quarterly bulletin “Banks of Armenia.’ To purchase this and other products of the news agency, please contact the marketing department at [email protected]). -0-
