Ranking of Armenian banks by size of assets in 2017

23.01.2018 18:32
Ranking of Armenian banks by size of assets in 2017

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 sales@arka.am). -0-

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