YEREVAN, November 5. /ARKA/. The capital of all 17 Armenia-based banks in the third quarter of 2021 stood at 927 billion drams, Executive Director of the Union of Banks of Armenia (UBA) Seyran Sargsyan said.

“This is quite an impressive figure that helps banks withstand stressful situations,” he said at a press conference on Friday.

His deputy Arman Sargsyan said that in the first nine months of 2021 the total capital of all banks grew by 4.2% or 37 billion drams year-on-year.

“The growth rate also continued in the third quarter and amounted to 1.3%. It is indicative that a substantial portion of the growth of capital was due to the replenishment of the authorized capital during 2021,” he said.

According to the UBA, all 17 banks run 541 branches in Armenia, employing as many as 12,700 people.

All the banks serve over 3.3 million clients, including non-residents. Those customers who have accounts with several banks are also taken into account. All clients have over 6.5 million bank accounts.

According to the Deputy Executive Director of the UBA, the number of clients increased by 2.9% in the first 9 months of 2021, while the number of accounts by 4.3%, or by about 270,000.

According to the UBA, the profit of the banks in January-September amounted to 66.3 billion drams (an increase of 13.1% in comparison with the same period last year), assets grew by 3.7% to 6.9 trillion drams, liabilities grew by 3.7% to about 6 trillion drams, lending dropped by 6.7% to 3.9 trillion drams, and deposits grew by 3.9% to 3.9 trillion drams. ($1 - 476.22 drams). -0-