YEREVAN, January 22. /ARKA/. According to the ranking of the most profitable Armenian commercial banks in 2017, compiled by Arka news agency, 17 banks posted a total of 38.3 billion drams in net profit earned last year, up from 32.1 billion drams they had earned a year earlier (an increase of 15.56%).
Out of 17 banks operating in the country, only two banks completed the year 2017 with losses (11.8 billion drams), while in 2016, four banks had losses worth 15.7 billion drams.
The top five banks by size of net profit were Ameriabank, Inecobank, Ardshinbank, ACBA-CREDIT AGRICOLE BANK and Anelik Bank. Ameriabank was the most profitable bank posting a total of 7.6 billion drams of net profit, an increase of 23.89% over the previous year. The second was Inecobank with a net profit of 7 billion drams (an increase of 36.2%). Ardshinbank finished 2017 with a net profit of 5.69 billion drams, down from 22 billion drams it had earned in 2016 (a 74.2% decline).
ACBA-CREDIT AGRICOLE BANK with a net profit of 5.56 billion drams against 1.8 billion drams in 2016 was fourth (an increase of 3 times).
Anelik Bank with a net profit of 4.2 billion drams was fifth (an increase of 3,8 times).
The ranking was compiled based on Arka news agency’s quarterly bulletin ‘Banks of Armenia.’ To purchase this and other products of the agency please contact the marketing department (e-mail: sales@arka.am).
