Armenian banks’ net profit in quarter one doubles

19.04.2018 18:05
Armenian banks’ net profit in quarter one doubles

YEREVAN, April 19. /ARKA/. Seventeen Armenia-based commercial banks earned a total of 20.1 billion drams in net profit in the first quarter of 2018, up from 10.7 billion drams they had earned in the same period last year. The growth was 87.2%. All 17 banks closed the first quarter with a profit.

According to the banks’ reports, their combined assets grew by 1.37% year-on-year to 4.416.1 trillion drams. Out of 17 banks, only six reported a decrease in their assets. The largest amount of assets in the banking sector, owned by a bank was 660 billion drams, and the smallest was about 50 billion drams.

During the reporting period, Armenian banks increased their credit investments by 1.72% to 2.690.9 trillion drams.

Also their total liabilities in the first quarter stood at 3.690.2 trillion drams, which was 0.84% ​​more than in the same period in 2017. Their liabilities to customers increased by 0.47% to 2.567.7 trillion drams.

The banks’ combined capital grew by 4.18% to 725.9 billion drams. The largest capital of a bank was worth about 83 billion drams, and the smallest - about 24 billion drams. ($1 - 480.99 drams). -0-


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