YEREVAN, January 19. /ARKA/. Armenia-based commercial banks' profits  in 2023 amounted to about 230 billion drams,  9.2% less than in 2022, when theyr earned 253 billion drams in rofit, the Union of Banks of Armenia reported.

The 18 banks' total capital increased by 13.5% year-on-year to about AMD 1.5 trillion and their total assets grew  by 9.5% to about AMD 9.2 trillion.

The banks' total liabilities increased by AMD 618 billion (8.7%) from 2022 to over AMD 7.7 trillion  

During the reporting period, liabilities to customers increased by AMD 459 billion (9.1%) to AMD 5.5 trillion. Credits and loans issued to customers amounted to over AMD 5 trillion with a 20.6% growth compared to 2022 ($1 - AMD 405.25) -0-