Armenia’s banking sector reports growth in 2017

22.01.2018 16:29
Armenia’s banking sector reports growth in 2017

YEREVAN, January 22. /ARKA/. Armenia’s banking sector reported a growth in all major financial indicators last year. According to their official statements, their combined assets totaled 4.362 trillion drams, having grown by 6.67% from the previous year. Out of the 17 operating banks, only five saw their assets drop.

Over the year, Armenian banks increased their credit investments by 3.54% to 2.646.8 trillion drams.
At the same time, their total liabilities totaled 3.661 trillion drams, which was by 6.83% more than in 2016. Their liabilities to customers increased by 9.8% to 2.555.7 trillion drams.

The sector’s combined capital grew by 5.83% to 701 billion drams, and the banks’ authorized capital stood at 463.7 billion drams (an increase of 10.43%).

The banking sector’s net profit amounted to 38.3 billion drams, up from 33.1 billion drams in 2016 (an increase of 15.5%). At the same time, out of all operating banks only two completed the past year with losses (against four in 2016). ($ 1 - 481.96 drams). --0--


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