Armenian banks’ retained earnings surged by 25.5 percent in the first nine months to 35.270.5 billion drams

18.10.2013 20:03
Armenian banks’ retained earnings surged by 25.5 percent in the first nine months to 35.270.5 billion drams

YEREVAN, October 18. / ARKA /. Armenian banks’ retained earnings surged by 25.5 percent in the first nine months to 35.270.5 billion drams from 28.106.9 billion drams in the same time span in 2012, according to “Banks of Armenia” financial-economic newsletter, compiled by ARKA news agency for the n the third quarter of 2013.

Out of 21 commercial banks operating in Armenia 18 posted profits. The remaining three banks posted losses of 1.4 billion drams, down from 4.3 billion from the year before. Five top banks accounted for 65.4 percent of profits. These banks are:

The leading bank by size of net profit was HSBC Bank Armenia (6.3 billion drams). It accounted for 18.1% of the net profit of all banks. It was followed by Ameriabank (4.6 billion drams), Ardshininvestbank (4.1 billion drams), VTB Bank (Armenia) – 4 billion drams, ACBA CREDIT AGRICOLE BANK –(3.9 billion drams).

The banks’ aggregate assets in the reporting period grew by almost 14.5 percent from the beginning of the year to 2.719.6 trillion drams, their liabilities upped by 14 percent to 2. 274.6 trillion drams and their total capital rose by 10 percent to 444.9 billion drams ($1 – 406.51 drams). -0-


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