Net profit of Armenia’s banking sector amounts to AMD 10.87 billion in 1st Q 2017

21.04.2017 12:08
Net profit of Armenia’s banking sector amounts to AMD 10.87 billion in 1st Q 2017

YEREVAN, April 21. /ARKA/. The net profit of Armenia’s banking sector amounted to AMD 10.87 billion in the first quarter of 2017 against AMD 6 billion in the first quarter of the previous year - 80.68 percent year-on-year growth.

According to quarterly reports, of the 17 banks operating in Armenia, 13 enjoyed growth, while two sustained losses amounting to AMD 1.13 billion.

Although the country’s banks have built up their net profits, their other indicators were flagging in the fist quarter.

For example, their assets totaled AMD 4 093.19 billion remaining almost unchanged, compared with the end of 2016 (0.002% decline).

Top five banks’ assets totaled AMD 2 222.3 billion making up 54.3% of the total amount of the banking sector’s assets.

Banks’ credit aggregate exposure grew 0.05% to AMD 2 558 billion, while their liabilities shrank 0.03% to AMD 3 427.6 billion.

Top five banks’ liabilities totaled AMD 1 956.4 billion making up about 57% of the total amount.
Liabilities to clients (account and deposits) grew 0.98% to AMD 2 354.1 billion.

Banks’ total capital amounted to AMD 665.5 billion (0.13% growth). ($1 – AMD 484.44). --0---


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