YEREVAN, May 18. /ARKA/. Out of 35 credit organizations operating in Armenia, 27 were profitable in the first quarter of 2018 with total profit amounting to 13.5 billion drams, according to ARKA news agency’s ranking of the 10 most profitable credit organizations. The other 8 companies reported losses to the tune of 117.2 million drams.

The net profit of all Armenian credit organizations in the first quarter of 2018 stood at 13.4 billion drams against 12.4 billion drams in the first quarter of 2017 (an increase of 8%).

According to the ranking, five of the most profitable credit organizations were Export - Finance, Bnakaran Yeritasardnerin, the First Factoring Company, Aregak, and the National Mortgage Company.
Export -Finance earned 8.1 billion drams in net profit, down from 9.1 billion drams earned in the first quarter of 2017. Bnakaran Yeritasardnerin earned 1.22 billion drams in net profit (a decline of 0.42%)

The First Factoring Company’s net profit fell to 975.4 million drams from 6.4 million drams in the first quarter of 2017.

Aregak’s net profit was 682 million drams (an increase of 10.9%), and the National Mortgage Company earned 416.2 million drams, an increase of 19.7%.

The ranking is compiled based on ARKA news agency’s bulletin "Credit Organizations of Armenia".
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