Armenian Banks’ Undistributed Profits Grow 61.4%

Banks

YEREVAN, April 18. /ARKA/. Armenian banks’ undistributed profits totaled AMD 10.6 billion at the first quarter of this year against AMD 6.6 billion gained for the same period a year earlier – 61.4% year-on-year growth.

This information is available in the latest issue of ARKA News Agency’s quarterly bulletin on Armenian banks’ activities.

Aggregate profits of 18 of 21 banks operating in Armenia amounted to AMD 10.5 billion in Jan-March 2011 against AMD 6.1 billion gained by 19 banks over the 1st Q 2010.

Three banks sustained losses in the first quarter of this year. Their losses totaled AMD 147.9 million.

According to ARKA News Agency’s data, HSBC Bank Armenia, VTB Bank (Armenia) and Mellat Bank were the largest profit-gainers in the 1st Q 2011.

Rank Bank 03.31.2011

thousand

 in % against 03.31.2010
1 HSBC Bank Armenia 1 616 636 73.00
2 VTB Bank (Armenia) 1 313 763 96.19
3 Mellat Bank 1 265 472 1192.3

Some 21 banks function in Armenia. ($1 = AMD 377).-0—

spot_img

POPULAR

Economy

Martin Galstyan discussed Armenia’s implementation of the Fund’s structural benchmarks with the IMF mission

Central Bank of Armenia Governor Martin Galstyan held a final meeting with Alexander Timan, head of the IMF mission to Armenia, the regulator's press service reported.
Announces

Armenia to Receive $200 Million from the World Bank to Develop a Sustainable and Competitive Economy

Armenia will receive $200 million (€170.3 million) from the World Bank to support its transition to a more competitive, globally integrated economy with responsible emissions management.
Banks

Byblos Bank Armenia launches new exclusive campaign for Mastercard World cardholders

YEREVAN, April 6. /ARKA/. Byblos Bank Armenia has announced the launch of a special campaign exclusively for the Bank’s Mastercard World cardholders.
Announces

How Idram and IDBank promote equal opportunities for women and men

Women’s Month is another opportunity to speak about the role of women in society and business, attitudes toward them, leadership, and equal opportunities for every member of society.
Economy

4.5% Inflation Recorded in Armenia in March

Twelve-month inflation in the Armenian consumer market in March of this year was 4.5%, according to a report from the Statistical Committee of Armenia.

LATEST NEWS

spot_imgspot_imgspot_img
Previous article
Weighted Average Of Us Dollar Rate In NASDAQ OMX Armenia As Of April 18, 2011 Was 377.38 Drams For $1
Next article
ArCa payment system executes 101,459 internet payments in the first quarter of 2011