YEREVAN, August 26. /ARKA/. The total capital of 17 Armenia-based commercial banks grew by 23% or 213 billion drams in the first half of 2022 to about 1.14 trillion drams, Seyran Sargsyan, the executive director of the Union of Banks of Armenia told a press conference today.

He said if compared with 2015-16, the total capital of the banks has almost doubled. 'This is a significant and dramatic growth in terms of capital," he said.

Compared to late March this year, the total capital of the banks increased by 40 billion drams or 3.6%, while the banks' assets increased by 193 billion drams or 2.74% to 7.24 trillion drams. Compared to late March 2022, the assets increased  by 70.6bln drams or 0.98%.

As of June 30, 2022, the total amount of the banks' lending totaled 3.99 trillion drams, an increase of 0.7% or 28 billion drams. However, compared to late March this year  they were down by 127 billion drams or 3.1%.

Deposits in the first half of the year increased  by 1.2%, or 47 billion drams, to about 4.1 trillion drams. In comparison with the end of the first quarter of 2022, they were up  2.2% or 89 billion drams.

In the first half of 2022, the banks earned  some 111 billion drams in profit . All the banks run as many as  537 branches in the country employing 12,800 people. The  number of bank accounts stands now at  6.9 million ($1 - 404.94 drams). -0-