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Foreign Capital in Authorized Fund of Banking System AMD 19.7Bln

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  • Foreign Capital in Authorized Fund of Banking System AMD 19.7Bln

    SHARE OF FOREIGN CAPITAL IN AUTHORIZED FUND OF BANKING SYSTEM OF
    ARMENIA REACHES 19.7 BLN DRAMS IN SECOND QUARTER OF 2004


    YEREVAN, JULY 27, ARMINFO. Share of foreign capital in the authorized
    fund of the banking system of Armenia increased by 1.7 per cent in the
    second quarter of 2004, totaling 19.7 bln drams or 52% on July 1. The
    authorized capital of the banking system increased by 2.4% in the
    second quarter, as 3 commercial banks had replenished their authorized
    funds by a total of 875 mln drams. As a result, the given indicator
    made up 37.9 bln drams on July 1, 2004.

    The press-service of the Armenian Central Bank told ARMINFO that the
    summary capital for the second quarter increased by 5.7%, reaching
    55.7 bln drams by July 1, 2004. Undistributed profits for the first
    half totaled 4.3 bln drams on this date (the bank operating in the
    special administrative regime exclusive), the major reserves totaled
    5.1 bln drams. The profits-authorized capital ratio totaled 11.3%.

    According to data of the Armenian CB, by July 1. 2004, 20 banks and
    221 branches operated in the territory of Armenia, with one operating
    in the special administrative regime of the Armenian CB. The results
    of the activity of the country's banking system were summed up on July
    1, 2004 on the basis of data of 19 normally operating commercial
    banks.
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