YEREVAN, April 21 /ARKA/. Eighteen Armenia-based commercial banks earned 70 billion drams in net profit in the first quarter of 2023, by 115.4% more from the same time span in 2022, according to the banks' statements published in accordance with international financial reporting standards (IFRS). All 18 banks operated with profit.

As of 31.03.2023, total assets of the banks stood at about 8.5 trillion drams, which, compared to the beginning of the year, was up 0.75%.

At the same time, the banks' lending amounted to over 4.3 trillion drams, having increased by 3.4% for the same period.

As of 31.03.2023 the banks' total liabilities stood at over 7 trillion drams (0.1% growth as compared with the beginning of the year), and liabilities to clients decreased by 0.44% to over 5 trillion drams.

The total capital of Armenian banks in the first quarter of 2023 amounted to over 1.3 trillion drams, having increased by 4.2% since the beginning of the year. -0-