YEREVAN, April 22 /ARKA/. The net profit of Armenia-based commercial banks in the first quarter of 2024 amounted to about AMD 83.1 bln, having increased by 19% compared to the same time span of the last year. According to the banks' reports compiled in accordance with IFRS standards.

All 18 banks operating in Armenia closed the first quarter with profit.

The banks' total assets as of 31.03.2024 stood at over AMD 9.4 trillion (2.6% growth ompared to the beginning of the year), and credit investments amounted to over AMD 5.1 trillion, increasing by 1.7%.

Total liabilities reached over AMD 7.8 trillion, with liabilities to customers amounting to AMD 5.6 trillion, increasing by 1.8% as compared to the beginning of the year.

The volume of total capital of the banks amounted to over 1.5 trillion drams, having increased by 6.9%. ($1 - 392.60 drams) -0-