Annual Report 2019
Central Bank of the Republic of Armenia
Notes to the 2019 consolidated financial statements
8.
Net gain on financial instruments at fair value through profit or loss
In thousands of Armenian Drams
2019
2018
Net gain on foreign securities under own management (excluding foreign
exchange translation*)
14,508,756
12,789,190
Net loss on assets under trust management (excluding foreign exchange
translation*)
(33,271)
(824,518)
Net gain on money market instruments under own management
(excluding foreign exchange translation*)
Trust management fees (excluding foreign exchange translation*)
Total net gain on financial instruments at fair value through profit
or loss
44,229
(17,763)
156,277
(182,513)
14,501,951
11,938,436
*
The foreign exchange translation of assets is included in "Net foreign exchange loss" (Refer to Note 6).
9. Other income
10.
In thousands of Armenian Drams
Numismatic coins
Financial agency fee
Other
2019
2018
725,162
651,905
163,865
259,379
3,337,231
2,825,131
4,226,258
3,736,415
Total other income
Financial agency fee represents fee which is obtained by the Bank as an agent of the Government in accordance with
the agency agreements. Based on the conditions of the agency agreements the Bank provides loans to commercial
banks and other financial institutions.
During the year ended 31 December 2019, the amount of AMD 2,460,686 thousand included in "Other" line represents
the revenue of two subsidiaries of the Bank which render cash collection and plastic cards processing services (2018:
AMD 2,091,643 thousand).
Cost of production of banknotes, coins and numismatics
In thousands of Armenian Drams
Production of numismatic coins sold during the year
Production of banknotes and coins
Total cost of production of banknotes, coins and numismatics
2019
2018
618,159
210,762
546,085
4,477,131
828,921
5,023,216
In 2018 in connection with the 25th anniversary of the Armenian Dram, the Central Bank has issued and circulated the
third series of banknotes of the Republic of Armenia, addressing a number of important issues of Armenian Dram
protection by applying printing technology innovations. The banknotes structure has been optimized with the introduction
of a new banknote with a nominal value of 2000 AMD. The third series of banknotes are represented by nominal values
of 1000, 2000, 5000, 10 000, 20 000 and 50 000 AMD.
11. Other expenses
In thousands of Armenian Drams
2019
2018
Employee compensation, staff training and related payments
Depreciation and amortisation
8,292,421
8,149,397
4,231,048
4,649,127
Repairs and maintenance
1,672,598
1,864,696
Security and insurance expenses
562,394
434,751
Expenses on development and maintenance of payment system
Professional services
467,193
482,285
136,632
188,075
Education, research and development of new projects
112,644
742,417
Other
2,420,388
2,873,593
Total other expenses
17,895,318
19,384,341
During the year ended 31 December 2019 and 31 December 2018, the expenses included into "Other" line represent
subscription fees, communication expenses, utilities, rent expenses and stationary of the Bank and its subsidiaries.
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