YEREVAN, October 30. /ARКА/. The total capital of 17 Armenia-based commercial banks in the first 9 months of 2019 increased by 6.2% or 47 billion drams amounting to 818.6 billion drams, the executive director of the Union of Banks of Armenia Seyran Sargsyan told reporters on Wednesday.
According to him, in the third quarter alone the total capital of the banks increased by 3.8% or by 29 billion drams.

He also said that the banks' assets in the first 9 months amounted to 5.395 trillion drams, having grown by 2.6% or 139 billion drams in the third quarter. The growth in the first 9 months was 8.7% or 432 billion drams.

"In 2009, the assets of the banks were worth 1.3 trillion drams. Now, ten years later, we can say they have increased by more than 4 times," Sargsyan said.

He also recalled that in 1993 there were 53 banks in Armenia, while now there are 17 banks, but their total assets have grown sharply.

'The growth of assets along with the reduction in the number of banks means the expansion and strengthening of banks," Sargsyan said.

He said the banks' total liabilities amounted to 4.576 trillion. drams, having increased by 6.4% or 192.9 billion drams in the third quarter, and by 12.4% or 351 billion drams from the start of the year.
($1 - 476.15 dram). -0-