20.07.2015 21:02
YEREVAN, July 20. / ARKA /. Net profits of Armenian commercial banks in the first half of 2015 slashed by almost 55% from the year before to 8.130 billion drams. In the first half of 2014 they posted 17.8 billion drams in net profit, according to ARKA news agency’s Banks of Armenia bulletin for the second quarter.
Out of 21 commercial banks operating in Armenia seven banks closed the first half with a total loss of 8.65 billion drams. In the first six months of 2014 six banks reported total losses of 2.7 billion drams. The decline in bank profits began in the second quarter 2014 and is still ongoing.
Besides, total assets of the banks also saw a drop in the first half of 2015 falling by 3.62% from the beginning of the year to 3.267 trillion drams; the banks’ total liabilities fell by 5.1% to 2.764.3 trillion drams; their credit investments fell by 4.53% to 2.069.2 trillion drams and the banks’ liabilities to clients dropped by 1% to 1.678.7 trillion drams. As for the banks’ capital, it increased by 5.4% to 502.6 billion drams.
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