Armenian banks’ retained earnings in the first nine months of 2011 grow by 29.43%

YEREVAN, October 18. / ARKA /. Armenian banks’ retained earnings in the first nine months of 2011 rose by 29.43% from a year earlier to over 31.7 billion drams, up from 24.5 billion drams in the same period in 2010, according to ARKA news agency’s financial-economic bulletin “Banks of Armenia” showing the indicators for the third quarter of 2011.

It should be noted that the total income of 20 out of 21 banks in January-September rose to 31.5 billion drams from 24.3 billion during the same period in 2010, reported by 19 banks. One bank reported a loss of 254.1 million drams. According to the agency “ARKA”, the three leading banks were by size of income

There are 21 commercial banks in Armenia ($1 – 375.4 drams). -0-