Sat, 26 July
22.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Net profits of Armenian banks in first nine months grows by 18.4% to 24.5 billion drams

YEREVAN, November 8. / ARKA /. Net profits of Armenian banks in the first nine months grew by 18.4% from a year earlier to about 24.5 billion drams, the Central Bank of Armenia (CBA) reported today. According to CBA, the banks’ profits before tax amounted to 31.4 billion drams, up from 26.1 billion drams in the first nine months of 2010.

The amount of interest income amounted to 127.2 billion drams, while interest expense to 58.4 billion drams. Non-interest incomes were said to amount to 34.8 billion drams, and non-interest expenses to 57.7 billion drams.

According to the Central Bank, net interest income of banks for the first nine months of this year amounted to more than 68.7 billion drams, up from 56 billion drams from a year before and the purely non-interest income less 22.8 billion drams against minus 21.6 billion drams for the 9 months of 2010.

As a result of 59.4 billion dram reserve payments for possible losses and the 44.9 billion drams refund, net payments totaled 14.5 billion drams against net payments of 8 3 billion drams for the nine months of 2010. The amount of accumulated retained earnings totaled 81.6 billion drams. There are 21 banks in Armenia operating 432 branches. ($1 – 380.47 AMD). -0-

spot_img

POPULAR

In Armenia, bad loans worth over $1 million have been written off under the state support program – Ministry of Social Affairs

14,757 applications for writing off bad loans have been received in Armenia within the framework of the relevant state support program, which started on February 1, 2025.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img