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Banking & Finance

publié le mercredi 16 décembre 2009

AUTHORIZED CAPITAL OF VENTURE FUND TO MAKE $40 MILLION
/DEC 1/ARKA/
The venture fund is being established by the government of Armenia and the Russian Sitronix company. It will be registered soon and the initial $40 million are expected to double in the second and future stages of the project.
The Armenian government’s share in the project will be between 10-15%. It will insist that its funding be directed at financing new companies and fresh ideas. The World Bank and some other international organizations are also taking interest in this project.
The venture fund is supposed to be established on the basis of Mars electronic plant that was handed to Russia as part of a deal christened Assets for Debt whereby Armenia handed five enterprises to Russia to clear its almost $100 million debt.
The selected projects will be implemented at Mars plant, which was built in 1988-94 for production of printed-circuit boards. Currently the plant operates at a fraction of its capacity.
In 2008 Mars plant, as well as the Institute of Material Science, Institute of Mathematical Machines and Automated Systems were handed to Russian Sitronix company, which plans to merge them into a single research center.

UNIBANK OFFERS NEW BENEFICIAL CAR LOANS
/DEC 1/PanARMENIAN.Net/
The bank offers following conditions for the off-road vehicles : 16 per cent of annual interest rate, 10 per cent prepayment, term of the loan is up to 5 years.
The campaign will last until March 1, 2010.
Unibank’s portfolio of car loans is over AMD 8.4 billion as of the 3rd quarter of 2009.

VTB BANK ARMENIA LAUNCHES $4 MILLION BACKUP LINE FOR AGARAK COPPER MOLYBDENUM COMBINE
/DEC 2/PanARMENIAN.Net/

ACBA-CREDIT AGRICOLE BANK AND ARDSHININVEST ARE THE MOST PROFITABLE BANKS OF ARMENIA
/DEC 3/ArmInfo/
ACBA-Credit Agricole Bank and Ardshininvestbank showed the highest profits in Jan-Sept 2009 - 2.7bln AMD ($7.1mln) and 1.5bln AMD ($3.9mln), respectively, Ameriabank is the 3rd with 1.1bln AMD profit, HSBC Bank Armenia the 4th (1bln AMD) and Artsakhbank the 5th (0.7bln AMD).

According to the Ranking of Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), VTB Bank showed the highest ROA - 3.5%. Prometey was the 2nd (3.1%), ACBA-Credit Agricole the 3rd (1.9%), ADB the 4th (1.8%) and Artsakhbank the 5th (1.7%). In ROE the leader was Artsakhbank - 10.8%, followed by ACBA-Credit Agricole Bank (9.7%), HSBC Bank Armenia (7.5%), Ardshininvest (6.7%) and Prometey (6.5%).
[ROA = Return on Assets = (Net Profits)/(Total Assets)]

  In Jan-Sept 2009 retained profit totalled 7bln AMD ($18.3mln) - 64.3% less than in Jan-Sept 2008. 16 banks showed 10.6bln AMD profit, 6 banks - 3.6bn AMD loss. Some of the formerly profitable banks are now among loss-makers due mostly to AMD devaluation in Mar 2009. ArmInfo’s experts believe that those banks will be able to improve the situation by the end of this year especially as many of them are active economy creditors.

  In Jan-sept 2009 the total capital of the banking system of Armenia grew by just 12%, as against Jan-Sept 2008 - by 21.6% to 266.8bln AMD ($694.3mln). - In Q3 2009 the index grew by 4.1% due to growth in profit.
  Only three banks increased their authorized capitals during the period : ArmBusinessBank, HSBC Bank Armenia and Cascade Bank with 13 banks having increased their capitals in Jan-Sept 2009.
  Ameriabank has the biggest authorized capital - 18.2bln AMD (7.1% annual growth), Ardshininvest is the 2nd with 15.5bln AMD (no change), ACBA-Credit Agricole Bank the 3rd with 14.6bln AMD (no change).
  The top five in total capital are ACBA-Credit Agricole Bank - 29.2bln AMD, Ardshininvest - 26.7bln AMD, VTB-Armenia - 22.6bln AMD, Ameriabank - 21.3bln AMD and HSBC Bank Armenia - 16.5bln AMD.

UNIBANK PRESENTS NEW MORTGAGE PROGRAM
/DEC 12/PanARMENIAN.Net/
Minimal prepayment is defined as 30 %, with maximal mortgage loan amount of $200 000. Loans are provided for a 15-year term, at 14% annual interest rate, the bank’s press service reported.
By the end of 2009 third quarter, Unibank mortgage portfolio exceeded AMD 12.7 billion to rank second in Armenia’s banking system.

Clientele base of internet and telephone banking of HSBC Bank Armenia exceeds 14 thsd people
/DEC 5/ArmInfo/

ARMERIABANK TO LAUNCH LARGE SCALE PROJECT ON BUSINESS FINANCING
/DEC 8/PanARMENIAN.Net/
Armeriabank has launched a large scale business financing project. The project will stipulate for beneficial crediting terms for enterprises with an annual turnover of AMD 5 million to 5 billion, with a personnel of under 250 people. USD 1.5 million credits are provided both for legal persons and private entrepreneurs. Credits are provided at the annual rate of 12%, for 7 years, including a 2-year grace period.
Besides, Ameriabank offers a unique possibility of crediting at preferential terms : credit rate will keep decreasing during the first 3 years of crediting.
The project aims at intensifying business activities and development of different sectors in Armenian economy.

CBA KEEPS REFUNDING LEVEL UNCHANGED
/DEC 8/PanARMENIAN.Net/
At a board session convened today, CBA board council resolved to keep current refunding level at 5%, RA CBA press service reports.
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