YEREVAN, June 6. / ARKA /. Armenian commercial banks expect their net profits to grow by 38 billion drams in 2011-2013 to 68 billion drams. According to a Central Bank of Armenia report on possible developments in the baking system in 2011-2013, the gross profits of the banks are expected to grow by 151 billion drams or 73% to 359 billion drams in 2013.

The banks also expect their gross expenditures to grow by 88 billion drams or 68% from 2010 to 217 billion drams in 2013.

‘Along with the increase of the share of interest yield of banks in their gross profits by 2 p.p. to 68% the share of their non-interest expenses will drop by 2 p.p. to 53% in 2013, ‘ the report says.

As a result net interest yield of commercial banks in 2011-2013 are expected to grow by 64 billion drams or 82% to 141 billion drams in 2013, while net non-interest yields will drop by 16 billion drams or 54% to 45 billion drams in 2013. The net interest margin will be between 5.5% - 5.8%,. up from 5.3% in 2010. -0-