Armenian Banks Post 27% Increase In Net Interest Income For The First Half

18.08.2011 14:25
Armenian Banks Post 27% Increase In Net Interest Income For The First Half

YEREVAN, August 18. / ARKA /.Armenian commercial banks posted a 27% increase in their net interest income for the first half of this year that was said to have amounted to 47.8 billion drams. The gross interest income was said to have increased by 28.5% to about 83.56 billion drams, and gross interest expenses by 31% to over 35.7 billion drams.

According to interim financial statements of banks for the second quarter of 2011, the leader in terms of net interest income was ACBA-Credit Agricole Bank, which accounted for 14% of all net interest income, or 6.7 billion drams (its gross interest income was 10, 5 billion drams, and interest expenses 3.8 billion drams).

The list of five leading banks in terms of net income also included: HSBC Bank Armenia (more than 5.6 billion drams), VTB Bank (Armenia) (about 5.1 billion drams), Ardshininvestbank (more than 4.2 billion drams) and Ameriabank (more than 3.9 billion drams).

The Bank Mellat posted 373.1 million drams losses in net interest income. Its gross interest income was 541 million drams and expenses 914.2 million drams. There are 21 banks in Armenia operating 417 branches. ($ 1 - 367.09 AMD). –0--


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