YEREVAN, November 5. /ARKA/. Profit of Armenian credit organizations totaled AMD 1530.8 million against 2351.8 million gained for the same period a year earlier (34.9% reduction), the Central Bank of Armenia reports.

Credit organizations’ accumulated surplus profit on credit organizations accounts amounted to AMD 4535.1 million by September 30, 2009.

Their interest proceeds for nine months totaled AMD 7919 million and interest expenses AMD 2452.1 million.

Non-interest proceeds totaled AMD 2995 million and non-interest expenses 3727 million.

As a result, net non-interest proceeds amounted to 5467 million against 4624 million at the same period of the previous year and net non-interest losses AMD 731.9 million against 1389.7 million a year earlier.

After allocation of AMD 5161.2 million to the reserve for possible losses and return of 2323.3 million, net allocations amounted to AMD 2838 million (486.8 million a year before).

Armenia has 27 registered credit organizations and 53 branches. ($1 = AMD 385.29).-0--