YEREVAN, April 19 /ARKA/. ARKA news agency has released a recurrent ranking of Armenia-based commercial banks by size of net profits they earned in the first quarter of 2018. According to it, 17 banks earned a total of 16 billion drams, down 45.2% or 29.3 billion drams from what they had earned in the same period last year. Of all 17 banks 11 closed the first quarter with decline in profit.
According to the ranking, the top five banks in terms of net profits were: Ameriabank, Ardshinbank, Inecobank, Artsakhbank and Conversebank, which accounted for 63.3% of all net profits earned by all 17 banks.
Ameriabank’s net profit amounted to 3 billion drams, up from 2.5 billion drams earned in the first quarter of 2018 (an increase of 20.9%). Ardshinbank earned 2.23 billion drams, up from 2.18 billion drams earned in the first quarter of 2018 (an increase of 1.85%). Inecobank’s net profit stood at 1.78 billion drams (a decline of 12.48%).
Artsakhbank posted a net profit of 1.67 billion (a decline of 40.8%). Conversebank’s net profit in the first quarter of 2019 amounted to 1.39 billion drams, up from 1 billion drams in the first quarter of 2018 (a decline of 38.8%).

YEREVAN, April 19 /ARKA/. ARKA news agency has released a recurrent ranking of Armenia-based commercial banks by size of net profits they earned in the first quarter of 2018. According to it, 17 banks earned a total of 16 billion drams, down 45.2% or 29.3 billion drams from what they had earned in the same period last year. Of all 17 banks 11 closed the first quarter with decline in profit.
According to the ranking, the top five banks in terms of net profits were: Ameriabank, Ardshinbank, Inecobank, Artsakhbank and Conversebank, which accounted for 63.3% of all net profits earned by all 17 banks.
Ameriabank’s net profit amounted to 3 billion drams, up from 2.5 billion drams earned in the first quarter of 2018 (an increase of 20.9%). Ardshinbank earned 2.23 billion drams, up from 2.18 billion drams earned in the first quarter of 2018 (an increase of 1.85%). Inecobank’s net profit stood at 1.78 billion drams (a decline of 12.48%).
Artsakhbank posted a net profit of 1.67 billion (a decline of 40.8%). Conversebank’s net profit in the first quarter of 2019 amounted to 1.39 billion drams, up from 1 billion drams in the first quarter of 2018 (a decline of 38.8%).

The ranking is compiled based on ARKA news agency’s bulletin “Banks of Armenia." To purchase this bulletin and other information products of the news agency, please contact the marketing department (e-mail: [email protected]). ($1 – 483. drams -0-