YEREVAN, July 18. /ARKA/. ARKA News Agency is publishing the ranking of the most profitable commercial banks of Armenia for the second quarter 2017.

The aggregate net profits of Armenia's all banks have grown 48.6% from AMD 12.8 billion in Jan-June 2016 to AMD 19 billion in the same period of 2017.

According to quarterly reports, only one of Armenia's 17 banks ended the first half of 2016 with losses (AMD 4.5 billion), while in the same period of the previous year three banks accounted for losses (AMD 2.6 billion).

Five banks are topping ARKA News Agency's ranking – Inecobank, Ameriabank, Ardshinbank, ACBA-CREDIT AGRICOLE BANK and Anelik Bank.

Inecobank ended the first half of this year with the largest net profit – AMD 3.56 billion (81.28% growth).

Ameriabank was the second biggest profit-gainer in the first half of this year. Its net profit amounted to AMD 3.34 billion after growing 55.82%.

Ardshinbank, with its AMD 3.1 billion and 39.34% year-on-year growth came third in the ranking.

ACBA-CREDIT AGRICOLE BANK ranks fourth with its AMD 2.7 billion and 2.6-time growth and Anelik Bank fifth with AMD 2.3 billion net profit in Jan-June 2017 against AMD 1.18 billion losses in the same period a year before.

The source for the ranking is ARKA News Agency's 'Banks of Armenia' Bulletin. To buy the bulletin and the agency’s other products you should apply to the marketing unit (e-mail: [email protected]).–0----