Armenian banks gain AMD 7.3 billion from Forex rate fluctuations in Q3

13.11.2012 15:31
Armenian banks gain AMD 7.3 billion from Forex rate fluctuations in Q3

YEREVAN, November 13. /ARKA/. Changes in foreign exchange rates had favorable effect on Armenian banks’ funds in the third quarter of this year, which is gauged at over AMD 7.3 billion.

According to banks’ quarterly financial reports, banks took advantage also of the previous quarter’s forex rate changes – they then earned AMD 3.6 billion from that.

ConverseBank gained from it more than other banks – AMD 2.3 billion, and ACBA-CREDIT AGRICOLE BANK – AMD 1.6 billion.

Unlike the mentioned banks, Armbusinessbank lost about AMD 1 billion, Araratbank AMD 7.8 million and VTB Bank (Armenia) about AMD 15.5 million.

According to the National Statistical Service, the Armenian dram sank 2.3% against the U.S. dollar in the third quarter to AMD 410.66 per one dollar. -0--


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Tags: , , Новости Армении АМИ Новости-Армения

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