YEREVAN, January 23. /ARKA/. ARKA News Agency has issued the ranking of banks of Armenia on their profits gained in 2018.

The Armenian banking sector’s net profit for 2018 amounted to AMD 62.2 billion in 2018 against AMD 34.8 billion in 2017 showing a 78.7% growth.

Remarkable is that 16 of Armenia’s 17 banks ended the year 2018 with profits.

Top five profit-gainers among the country’s banks are Ameriabank, Ardshinbank, Inecobank, ACBA-CREDIT AGRICOLE BANK and Artsakhbank. Their aggregate profits in 2018 made up 63.6% of the banking sector’s total result.

Ameriabank is topping the ranking with the net profit amounting to AMD 10.5 billion in 2018 against AMD 7.6 billion in 2017 (37.3% growth).

Ardshinbank is ranked second with AMD 8.2 billion against AMD 5.5 billion respectively (48.5% growth).

Inecobank, with its AMD 8 billion and 14% growth came third in the ranking.

It is followed by ACBA-CREDIT AGRICOLE BANK, which gained AMD 6.9 billion in 2018 accounting for a 25.5% growth, and Artsakhbank, which gained AMD 6 billion against AMD 3.5 billion and accounted for a 69.9% growth.

The only bank that ended the year 2018 with losses is VTB Bank (Armenia) – its losses totaled AMD 4.82 billion in 2018 against AMD 4.8 billion a year earlier. -0---

The ranking is based on ARKA News Agency’s “Banks of Armenia” Bulletin. To acquire the Bulletin and the agency’s other products one can contact the marketing unit (е-mail: [email protected]). -0---