YEREVAN, April 14. /ARKA/. Armenia’s Central Bank said in a report its net profit last year amounted to over 463.9 million drams compared to minus net loss of 28.6 billion drams in 2010. Net income earned from foreign exchange rate fluctuations in 2011 amounted to 19.2 billion drams against minus 12.6 billion drams in 2010, net income from the assets available for sale in 2011 amounted to 60.7 million drams against minus 21.2 million drams in 2010.
In addition, the size of net income from financial instruments measured in actual cost exceeded 1.9 billion drams, down 32.1% from 2010. The amount of other incomes amounted to 2.8 billion drams, an increase of 47.5%.
Transfers to the reserve fund for a possible devaluation amounted last year to minus 11.6 billion drams against zero transfers in 2010. The costs associated with the emission of paper bills and metal coins made minus 2.4 billion drams against minus 226.8 million drams in 2010.
Other expenses during the reporting period of time amounted to about minus 10.9 billion drams against minus 13.1 billion drams in 2010. At the same time income taxes amounted to about minus 99 million drams.
Interest income amounted to 11.9 billion drams, having increased in comparison with 2010 by 24.6%, while interest expense amounted to minus 10.1 billion drams. As a result, net interest income of the Central Bank in 2011 amounted to 1.7 billion drams against net costs in the amount of minus 7.1 billion drams in 2010.
At the same time, commissions amounted to 70.9 million drams, having increased by 15.5% compared with 2010, and commission expenses reached minus 350.9 million drams. As a result, in 2011 net fee and commission expense amounted to about minus 280 million drams. ($1 – 392.16 drams). -0-
