Armbusinessbank is in top 3 by assets -$835.7 mln with 31.3% growth  in 2016 

ArmInfo. Armbusinessbank is in  top 3 by amount of assets -404.4 bln drams or $835.7 mln with 31.3%  growth in 2016. According to the data of Express Ranking of Armenian  Banks prepared by ArmInfo based on published financial reports of the  bank Armbusinessbank ensured such growth of assets in 2016 mainly due  to disposable funds (almost 2-fold growth) and investments in state  securities (54.5% growth), at the background of which growth of loan  portfolio was relatively moderate-29.5%. 

To note for comparison that in 2015 Armbusinessbank ensured higher  rates of growth of assets-by 39.8% and that time loan portfolio was  the main driver (53.9%) followed by disposable funds (31.2%) and  investments in state securities dropped by 9.9%. 

By Jan 1 2017 the loan portfolio of the bank reached 268.5 bln drams  or $554.8 mln, disposable funds- 59.98 bln drams or $123.9 mln,  investments in state securities-35.9 bln drams or $74.1 mln. 

As a result at yearend 2016 Armbusinessbank ensured net profit  amounting to 1.5 bln drams or $3.04 mln with 25% y-o-y growth. In Q4  alone the bank managed to raise net profit almost 3-fold. However,  quarterly growth of profits was mainly caused by non-interest yield  (by 40.4%) rather then interest yield(10.2%) in conditions of growth  of absolute value of loan portfolio by 21.3% and investments in  government securities by 43%. At the same time moderate quarterly  growth of interest expenses (6.3%) was accompanied with 35% growth of  non-interest expenses due to growth of administrative and operational  expenses-by 41.7% and 51.7% respectively. In y-o-y terms (2016 versus  2015) interest yield increased by 16% amid 57% growth of non-interest  one, while growth of interest costs by 20% was accompanied with 29.5%  growth of non-interest ones. In their structure administrative  expenses grew by 13.3% in the reported period amid growth of  operational ones by 47.1%, at the background of which commission  expenses dropped by 17.7% amid growth of commission revenues by 8.7%. 

In 2016 Armbusinessbank increased total liabilities by 32.2% to 367.6  bln drams or $759.6 mln entering top 3 by this indicator. In their  structure liabilities against clients grew by 42.2% to 261.3 bln  drams or $540 mln. The total capital of the bank increased by 23.1%  to 36.8 bln drams or $540 mln. Total capital of the bank increased by  23.1% over 2016 to 36.8 bln drams or $76 mln, in its structure the  share of authorized fund is 85.3% and accumulated profit-7.6%. In  y-o-y terms the bank increased authorized capital by 37.1% to 31.4  bln drams, while accumulated profit declined 2-fold to 2.8 bln drams.  Prior to this the bank increased authorized capital in 2011-by 30.1%  and in 2014-by 30.9%. Total normative capital of the bank totaled  30.2 bln drams as of Jan 1 2017, which is higher than the previous  year's indicator by 15%. Overall liquidity increased to 17.1% from  16.01% in 2016 (versus required min of 15%), while day- to-day  liquidity grew more significantly from 76.98% to 120.47% (versus  required min of 60%). 

To recall, Armbusinessbank has been operating on the Armenian market  since December 1991.  Vitaliy Grigoryants is the sole owner of the  bank. The bank enters top 5 by the branch network, having 50  branches, 21 of which are in Yerevan, 22 in the regions of Armenia  and 7 in NKR.