YEREVAN, October 19. / ARKA /. Armenia’s insurance companies expect their average net profit in 2012-2014 to grow by almost 20 percent annually to 2.9 billion drams, up from 1.66 billion dram growth in 2011, the Central Bank of Armenia says in a report posted on its official website.
Insurance companies predict also a 13.7 percent annual growth of interest income in 2012-2014 to 2.8 billion drams in 2014, up from 1.9 billion drams in 2011.
The volume of non-interest income in 2014 is expected to reach 231.1 million drams. At the same time, non-interest expenses in 2012-2014 are expected to grow by 9.9% annually to 8.3 billion drams in 2014, up from 6.3 billion drams in 2011.
Return on assets (ROA) and return on equity (ROE) growth of insurance companies in 2014 are projected at 7.1% and 15.9% respectively, up from 5.8% and 12.1% respectively in 2011, the Central Bank said. ($406.13 drams). -0-
