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Banking & Finance

publié le lundi 30 novembre 2009

VTB BANK (ARMENIA) TO INCREASE CREDIT PORTFOLIO UP TO $200 MLN TILL THE END OF 2009
/NOV 11/ArmInfo/

ARMENIAN SECURITIES MARKET SHOWS SIGNS OF REVIVAL
/NOV 13/news.am/
Numerous Armenian companies are ready to issue shares, but they are not sure the capital market and public trust securities, Armen Melikyan, Director General of NASDAQ OMX Armenia told NEWS.am. According to him, bonds of ten companies and shares of 11 companies are currently listed on NASDAQ OMX Armenia. Melikyan pointed out a number of reasons for the underdevelopment of Armenia’s securities market. First, the capital market and the public do not trust shares. "In 1993, when the privatization process got under way, people were not informed of what a share was. Later, securities were bought from them dirt cheap. Time passed and the same people learnt that a share they sold at 500 Armenian drams is worth 200 U.S. dollars now," Melikyan said.
Another problem is the lack of money on the capital market. The companies issuing shares may have doubts about yield because of scanty demand. Melikyan pointed out some movement on the securities market from early 2008. "Companies began issuing bonds. That enabled them to repay high-interest bank credits, and they were thus changing the credit structure," Melikyan said. Since mid-2008, however, as the global crisis was developing, the activity has been getting lower.
Melikyan said that the financial crisis made foreign investors, who are mostly shareholders in the companies issuing shares, suspended their investments in the Armenian economy.
"We expect activity on the exchange from mid-2010, as economic recovery is expected in many countries," Melikyan said. He believes pension reforms will boost the Armenian capital market as well.

FIXED DEPOSITS OF UNIBANK HAS DOUBLED
/NOV 16/ArmInfo/

THE ARMENIAN BANKING SYSTEM GROWING
/NOV 17/Aysor/
As the Aysor.am was informed by the Union of the Armenian Banks according to the records of the 3rd semester of this year the credits of the 22 Banks together have reached 1.2 trillion drams, which in comparison with the 2nd semester is more with 10.6 %. The general capital of the banks has grown with 4% and has made 266.8 milliard drams. On January - June the capital was 256.3 milliard drams.

PRIVATE TRANSFERS TO ARMENIA FOR 2009 Q3 UP 37%
/NOV 18/armradio.am/
Private transfers to Armenia via commercial banks through the international payment systems were up 37% (by 28 billion drams) for 2009 Q3 versus Q2 and were down 24% (by 34 billion drams) as compared to 2008 Q3 and totaled 102 billion drams ; says the report of the Central Bank of Armenia on the payment systems for 2009 Q3.
Private transfers via commercial banks for 2009 Q3 totaled 112.8 billion drams (445166 transfers), which exceeded the money transfers from Armenia ten times. Money transfers to Armenia were made via eighteen international payment systems : UniStream, Anelik, Migom, Money Gram and others. The average size of a transfer to Armenia totaled 253,000 drams in the 2009 Q3, which was by 35,000 drams higher than for the Q2.
Payments to individuals via correspondent accounts of commercial banks total 91 billion growing 126% versus Q2 (by 51 billion drams) and 78% (by 40 billion drams) versus Q3 2008. The average size of such payment grew by 2 million drams totaling 3.6 million drams. Transfers from Armenia via correspondent accounts by individuals totaled 79 billion drams falling 0.7% (by 0.6 billion drams) versus 2008 Q3. Transfers to Armenia through interbank settlement systems (SWIFT, Teleks, fax) totaled 765 billion drams 2009 Q3 (45646 transfers) with an average transfer totaling 17 million drams growing 43% per year. Local payment organizations transferred 1.2 billion drams for Q3 including 1 billion drams due to membership in international payment systems. Transfers from Armenia via these organizations totaled 0.1 billion drams. The average size of a transfer to Armenia via these organizations totaled 89,000 drams falling by 19,000 drams versus the same period of 2008.
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