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Electric networks of Armenia unprofitable in 2012: CEO

10.06.2013 13:51

Electric networks of Armenia unprofitable in 2012: CEO

YEREVAN, June 10. /ARKA/. Electric Networks of Armenia operated at a loss in 2012, the company’s general director Yevgeniy Bibin told reporters Friday.

The main reason was purchase of more expensive power generation, Bibin said.

The company will officially report the details after its stockholders’ annual meeting on June 26.
According to the company’s annual report, net profit was 2,826mln drams in 2011 as compared to the profit of 11,669.6mln drams in 2010 (75.8% reduction).

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Armenian Central Bank’s 3Q losses hike 3.5%, equity capital down 30.5%

16.11.2012 14:57

Armenian Central Bank’s 3Q losses hike 3.5%, equity capital down 30.5%

Equity capital of Armenia’s Central Bank downed 30.5% throughout the third quarter to 8.7 billion drams as of 30 September versus 12.6 billion drams at the second quarter, according to the CB 3 Q financial stability report

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Armenian insurers lost AMD 688.3 mln in I quarter

19.06.2012 17:27

Armenian insurers lost AMD 688.3 mln in I quarter

Net loss of Armenian insurance companies is over 688.3 million drams in the first quarter of 2012 against net income of 1.2 billion drams in the first quarter of a year earlier

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