YEREVAN, April 21. /ARKA/. ARKA news agency has released a recurrent ranking of the most profitable commercial banks of Armenia in the first quarter of 2017.
Armenia’s banking sector earned a total of 10.87 billion drams in net profit against 6 billion drams for the first quarter of 2016, an increase of 80.68%.
Of 17 active banks in the country, 13 banks registered profit growth. Two banks closed the first quarter of 2017 with a loss of 1.13 billion drams.
According to the ranking, the top five banks by size of net profit were: Inecobank, Ameriabank, HSBC Bank Armenia, ACBA-CREDIT AGRICOLE BANK and Ardshinbank.
The ranking was compiled based ARKA news agency’s quarterly bulletin Banks of Armenia. To obtain this bulletin and other products of the news agency apply to firstname.lastname@example.org). -0-