YEREVAN, December 16, /ARKA/. Retained earnings of Armenian commercial banks in the first nine months of the year slashed by 66.3% from a year ago to 7.040 billion Drams, down from 20.9 billion Drams in the first 9 months of 2008.

According to the interim reports of the banks, their interest returns totaled 82.8 billion Drams, and interest expenses totaled 36.08 billion Drams.
Their commission profits totaled 12.2 billion Drams and commission expenses 2.258 billion Drams. As a result net interest profits totaled 46.7 billion and net commission profits 9.6 billion Drams.

The aggregate profit of all 22 commercial banks in January-September totaled 10.6 billion Drams, down from 22.9 billion Drams, reported by 19 banks in the first nine months of 2008. The retained balance sheet profit stood at 68.892.5 billion Drams, down from 68.892.5 billion Drams from a year ago. Six banks posted 3.578.2 billion Drams losses.

The biggest profit was reported by ACBA Credit Agricole Bank- 2.729.3 billion Drams, (they fell by
16.1%). It is followed by Ardshininvestbank which earned 1.528.9 billion Drams, down from 4.351,5 Drams a year ago (its profits fell by 64.9%.) Third was y Ameriabank with 1.064,6 billion Drams of profits, (its profits declined 2.2 times from a year before) and HSBC Bank Armenia was fourth, which earned 1.014.8 billion Drams(the decline was 64%). There are 22 banks in Armenia with 365 branches. ($1 – 382. 50 Drams). -0-