ACBA-Credit Agricole Bank increased its net profit in 2017 for 3  times and consolidated in TOP-5 by main balance sheet items

ArmInfo.ACBA-Credit Agricole Bank, which is a traditional leader in the agro-loan market, by January 1, 2018, was entrenched in TOP-3 by total capital and the top  five in terms of assets and liabilities.

According to the Express-Ranking of Armenian Banks, prepared by IC  ArmInfo, the total capital of the ACBA-Credit Agricole Bank at that  date was 60.2 billion drams or $ 124.4 million with the acceleration  of annual growth from 5.4% to 6.4%. Moreover, in its structure, the  growth acceleration was recorded on the accumulated profit - from  11.9% to 28.2%, reaching 20.4bln AMD (the 2nd position), with the  statutory capital (30bn AMD) and the revaluation reserve increase by  15%, 6% - to 5.2 billion drams. The regulatory total capital of the  bank for 2017 increased by 6.2% - to 54.8 billion drams. The  authorized capital of the bank was increased in 2011 - by 2 times,  using the lion's share of accumulated profit and share premium.  The  total capital of the Bank is dominated by the authorized capital -  49.8%, while the accumulated profit is 33.8%, and the remaining 16.4%  are reserves.

The Bank increased its assets by 9.8% in 2017 (against 3.8% growth in  2016) to 311.02 billion drams or $ 642.5 million, in the structure of  which 184.6 billion drams are concentrated in the loan portfolio  (including leasing) with annual growth by 5.5%, and 67.4 billion  others - in cash and correspondent accounts with the CBR (with an  annual growth of 31.4%), 21.1 billion others - in the securities  portfolio (with an annual decline of 20.7%).

Total liabilities of the Bank increased by 10.6% in 2017 (against  3.4% growth in 2016) - to 250.8 billion others or $ 518.1 million,  due to a sharp acceleration of the annual growth of term deposits and  customer demand deposits from 3.1 % to 27.6% - 172.6 billion others  ($ 356.6 million), with a decline in attracted m / w loans by 20.8%  (against growth of 3% in 2016) - to 69.2 billion others ($ 149  million). In August 2017, the bank began issuing its own bonds  (dollar with an issue of $ 5 million, quoted from October in the main  "Abond" list), from the placement of which it managed to attract  almost 3 billion drams by the end of the year.

Due to the high growth rates of assets and liabilities, the Bank  managed to significantly increase its net profit in 2017 - by 3 times  - to 5.6 billion drams. In particular, non-interest income grew by  8.6% year-on- year, while non-interest expenses grew by 3.1%.  Moreover, in their structure, commission income grew by 21.9%, while  commission expenses grew by only 0.5%, growth in operating expenses  by 14.3% was accompanied by a decrease in operating income by 0.5%,  and administrative expenses increased by 5% 5%.  In parallel, an  annual increase in interest income and expenses was recorded - by  1.4% and 7.1%, respectively.

The capital adequacy ratio of the ACBA-Credit Agricole Bank as of  January 1, 2018 was 19.35% (N1, with the required minimum 12%), total  liquidity - 28.37% (N2/1, with the required 15% min), current  liquidity - 178.65% (N2/2, with the required min of 60%). A year ago,  as of January 1, 2017, the Bank's standard N1 was 19.21%, N2/1 -  29.42%, N2/2 - 219.75%.

ACBA-Credit Agricole traditionally leads the portfolio of  agricultural loans - about 40% in the loan portfolio of the bank. In  the total agricultural credits of the banking system, the share of  ACBA-Credit Agricole Bank dominates - about 50%. But the bank is not  limited to the agricultural sector, actively financing such areas as  SMEs, industry and trade, while being leaders and retail lending. In  terms of coverage of the branch network, the Bank occupies the fourth  position, but in terms of the number of regional networks it holds  the second position. The calculated exchange rate of the dram as of  December 31, 2012 was 484.10 AMD/USD1.

"ACBA-Credit Agricole Bank" CJSC has been operating in Armenia since  1995. The majority of the bank's shareholders are the largest  European banking group Credit Agricole S.A. with a 15.56% interest in  the capital, after which SJSC "Sacam International" (member of the  Credit Agricole S.A group) shares 12.44% and "ACBA Federation" CJSC -  71%.