Financial analysis of Armenian banking sector - 1Q 2022

22.04.2022 | 10:00 Home / News / Articles /
#RUMELS Management Solutions,banks #analysis
We are presenting to your attention the summary of results of the Armenian banking sector for 1Q-2022, prepared and published exclusively on Banks.am by a specialized consulting company RUMELS Management Solutions.

RUMELS Management Solutions is a specialized consulting company. The company was founded by Ruben Melikyan in 2013. For the past 22 years Ruben Melikyan has occupied responsible management positions in companies operating in different spheres thus gaining experience in various sectors of the economy such as banking system, internal and external audit, retail and wholesale trade. Ruben Melikyan is a full member of ACCA and an Oxford University graduate (Executive MBA).



Net Profit

- The total net profit of all Armenian banks for 1Q-2022 is equal to 30.8 bln AMD, which is 11.4 bln AMD or 59% more than it was recorded during 1Q-2021.

- Except for VTB Bank (Armenia), remaining banks generated profits in 1Q-2022 and three banks (Ameriabank, Ardshinbank and Inecobank) generated 50% of the total net profit of the Armenian banking sector.

- The net profit of Ameriabank has almost doubled and amounts to 7,5 bln AMD.



Total loan portfolio

- The total loan portfolio of the banking sector during 1Q-2022 has increased by 2.8%.

- As of 31.03.2022, the total loan portfolio amounts to 4.139 bln AMD and its share in total assets is 58%.

- The mentioned total loan portfolio includes retail and corporate loan portfolios.
 



- The market share of the largest 5 banks (Ameriabank, Ardshinbank, ArmBusinessBank, ACBA Bank and Inecobank) by total loan portfolio, is 61%.

- Ameriabank has the largest market share - 17.2%.



Current accounts and deposits of customers

- During 1Q-2022, the total balance of current accounts and deposits of retail and corporate clients of the banking sector slightly decreased by 23 bln AMD or by 0.6%.

- As of 31.03.2022, the total balance of current accounts and deposits of retail and corporate clients amounts to 3.848 bln AMD and its share in total liabilities is 63%.



Bonds

- During 1Q-2022, the total balance of bonds issued by Armenian banks slightly decreased by 4.4 bln AMD, or 1% and amounts to 441 bln AMD.

- Currently, 12 out of 17 banks, issued bonds. The majority of the bonds are listed on the Armenian Stock Exchange.



Total equity

- During 1Q-2022, the total equity of the Armenian banking sector increased by 146 bln AMD, or 15.4% and amounts to 1.099 bln AMD. This significant increase is mainly explained by the increase of the share capital of Armbusinessbank by 128 bln AMD. The bank’s shareholding has also changed and there are currently two shareholders: “MFM Global Invest Ltd” (75% shareholding) and “Home for youth” RCO CJSC (25% shareholding).

- During 1Q-2022, retained earnings (including general reserve) of the Armenian banking sector increased by 31 bln AMD, or by 9% and amount to 393 bln AMD.

- Two banks declared dividends during 1Q-2022, amounting to 259.4 mln AMD (Armeconombank - 220 mln AMD and Ardshinbank - 39.4 mln AMD).

- Revaluation reserves decreased by 13.4 bln AMD or 49%.



Full version of the analysis of Armenian banking sector results for 1Q-2022 is available on this link.

Full version of the analysis of Armenian banking sector results for 2021 is available on this link.

Full version of the analysis of Armenian banking sector results for 9 months of 2021 is available on this link.

Full version of the analysis of Armenian banking sector results for 1HY 2021 is available on this link.

Full version of the analysis of Armenian banking sector results for 1Q 2021 is available on this link.

Full version of the analysis of the loan portfolio of Armenian banking system 2019-2020 is available on this link.

Full version of the analysis of the profitability level of Armenian banking system 2019-2020 is available on this link.
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