YEREVAN, April 18. /ARKA/. The net profit of 17 Armenia-based commercial banks in the first quarter of 2019 dropped by 20.3% to 16 billion drams from 20.1 billion drams in the first quarter of 2018, according to the banks’ statements.

More precisely, 11 of the 17 banks posted decline in profits, but despite it all of them closed the quarter without losses.

According to the quarterly results, the total assets of Armenia-based banks amounted to 5.125.4 trillion drams (a 3.4% growth). The lending by banks during the reporting period increased by 2% to 3.126.7 trillion drams.

The banks’ total liabilities at the end of the first quarter of 2019 stood at 4.340.6 trillion drams (an increase of 3.5%), while liabilities to customers amounted to 2.889.4 trillion drams (an increase of 1.7%).
The total capital of the banks dropped by 2.6% to 784.7 billion drams. -0-