YEREVAN, October 8. /ARKA/. Armenian commercial banks expect to earn 57 billion drams in net income within 2012-2014, which is 2.8 times more. The projected net income by late 2014 is supposed to reach 89 billion drams, according to the report “Possible developments of Armenia’s banking system 2012-2014” compiled by the Central Bank.
Gross income of the commercial banks in 2012-2014 is expected to rise by 166 billion drams or 60% to 444 billion drams in 2014.
Gross expenditures of the Armenian commercial banks are forecasted to rise by 95 billion drams or 40% from 2011 to 332 billion drams.
The report says the share of interest income in gross revenues may climb by 7 p.p. to 70% in 2014. The banks plan to steadily maintain the share of non-interest incomes and expenditures in gross revenues and expenditures.
As a result, within the reported period, the net interest income of the commercial banks will jump by 68 billion drams or 72% to 164 billion drams in 2014, and net non-interest income will slash by 3 billion drams or 10% to 38 billion drams in 2014.
The net interest margin in the banking system will teeter within 4.9%-5.2% instead of 5.1% in 2011. ($1- 407.56 drams). —0-
