YEREVAN, May 11. /ARKA/. Armenian banking system’s net income totaled nearly 7.8 billion drams in the first quarter of this year versus 8.1 billion drams from the same period a year earlier, Central Bank states.

The total income of the banks before paying the taxes amounted nearly 9.6 billion drams ( 10.1 billion drams in the first quarter of 2011).

At the same time, interest income within the reported period reached 54.2 billion drams at interest expenses of 24.4 billion drams. Non-interest income of the banks posted 11.2 billion drams, and non-interest expenses- 21.9 billion drams.

Net interest income of the banks in the first quarter of this year was over 29.9 billion drams ( rise by 39.6 % from the first quarter of 2011), and net non-interest income- minus 10.7 billion drams ( against minus 7.8 billion drams for the same period of 2011), the data shows.

As a result of 29.2 billion dram reserve payments for possible losses and the 19.7 billion dram refund, net payments totaled 9.5 billion drams against 3.5 billion drams from the first quarter of 2011.

As of March 31 of 2012 there are 21 banks and 444 branches in Armenia. ($1 – 393.07 drams).—0--