YEREVAN, February 17. /ARKA/. Armenian banks’ net interest income grew 22.8% in 2011, compared with 2010, to AMD 101.4 billion.

Interest income amounted to AMD 179.1 billion and interest expense to AMD 77.7 billion.

Banks’ 4th Q financial reports show that ACBA Credit Agricole Bank, with its 13.9 billion net interest and 13.8% share in Armenian banks’ aggregate net interest income, was the largest net interest income gainer in 2011.

Its interest income amounted to AMD 22.4 billion and interest spending about AMD 8.5 billion in 2011.

HSBC Bank Armenia, with its AMD 11.9 billion, follows ACBA Credit Agricole Bank.

Bank VTB (Armenia), with AMD 11.1 billion, came third, Ameriabank (AMD 8.8 billion) fourth and Ardshininvestbank (over AMD 8.7 billion) fifth.

Mellat bank lost more than AMD 699.3 million in net interest. Its interest income was AMD 856 million, and interest spending AMD 1.6 billion.

Twenty one banks with their 437 branches functioned in Armenia in late December 2011. ($1 – AMD 389.13).-0---