ARKA News Agency presenting Jan-Sept 2016 profit ranking of Armenia’s credit organizations

23.11.2016 15:12
ARKA News Agency presenting Jan-Sept 2016 profit ranking of Armenia’s credit organizations

YEREVAN, November 23. /ARKA/. ARKA News Agency is presenting the Jan-Sept 2016 profit ranking of Armenia’s credit organizations.

According to the ARKA analysis, the aggregate profits earned by all the credit organizations of Armenia in Jan-Sept 2016 amount to AMD 11 723 million showing a 60.3 percent year-on-year growth.

The news agency says 22 of the country’s 32 credit organizations were profitable – their profits totaled AMD 12 621.7 million in Jan-Sept 2016. The remaining nine companies’ losses amounted to AMD 895.6 million in Jan-Sept 2015, while at the same period a year before only five companies sustained losses that amounted to AMD 604.8 million.

Top five profit-gainers in ARKA ranking are Bnakaran Yeritasardnerin, Export Finance, Fast Credit, Aregak and the National Mortgage Company credit organizations.

Their profits totaled AMD 10 586 million and made up about 90.2% of the aggregate profits of Armenia’s credit organizations.

Bnakaran Yeritasardnerin Universal Credit Organization is topping the ranking with its AMD 3 246.2 million gained over the mentioned period and 1.1-time year-on-year growth.

Export Finance Universal Credit Organization, with its AMD 3 157.2 million, is the second biggest profit-gainer in ARKA News Agency’s ranking.

It is followed by Fast Credit Universal Credit Organization, which has gained AMD 1 914.2 million over a period between January and September 2016 showing 1.4-time year-on-year growth.

Aregak Universal Credit Organization came fourth in the ranking – it earned AMD 1 270.6 million in Jan-Sept 2016 of this year against AMD 1 157.1 million in July-Sept 2015.

The National Mortgage Company is rounding out the top five with its AMD 997.7 million, though the company’s profit shrank 23.9% in Jan-Sept 2016, compared with the same period a year earlier.

Finca Universal Credit Organization, which came sixth in the ranking, showed the highest year-on-year growth, while Farm Credit Armenia Universal Credit Organization (the 29th rank) is singled out for the worst decline – AMD 66.6 million losses against AMD 7.6 million one year earlier.

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The ranking is based on ARKA News Agency’s bulletin ‘The Credit Organizations of Armenia’. -0---


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