YEREVAN, November 6. / ARKA /. Twenty-one Armenia-based commercial banks posted  31.2 billion drams in net profits for the first three quarters of the year, which is up from  24.5 billion drams in net profits reported a year earlier, the Central Bank of Armenia said in its report on the activities of Armenia-based banks.

According to the Central Bank, the banks pre-tax income amounted to 39.8 billion drams, an increase from 31.4 billion drams a year before.

At the same time, the banks’ interest income amounted to 166.3 billion drams, as interest expenses amounted to 79.9 billion drams. Their non-interest income amounted to 39.4 billion drams while non-interest expenses rose to  68.4 billion drams.

According to the  Central Bank, banks' net interest income for the first 9 months of this year amounted to more than 86.3 billion drams (a growth of 25.6% compared to the same period in 2011) and net non-interest income - minus 29 billion drams (against minus 22.8 billion drams in the same period of 2011).

At the same time as a result of payments made by banks to reserve fund in the event of  possible losses in the amount of 96.2 billion drams, and 78.67 billion drams refund , net contributions amounted to 17.5 billion drams (against 14.5 billion drams in January-September 2011).
There are  21 banks in Armenia which operate  465 branches. ($ 1 - 407.30 drams). -0-