YEREVAN, November 6. / ARKA /. Twenty-one Armenia-based commercial banks posted 31.2 billion drams in net profits for the first three quarters of the year, which is up from 24.5 billion drams in net profits reported a year earlier, the Central Bank of Armenia said in its report on the activities of Armenia-based banks.
According to the Central Bank, the banks pre-tax income amounted to 39.8 billion drams, an increase from 31.4 billion drams a year before.
At the same time, the banks’ interest income amounted to 166.3 billion drams, as interest expenses amounted to 79.9 billion drams. Their non-interest income amounted to 39.4 billion drams while non-interest expenses rose to 68.4 billion drams.
According to the Central Bank, banks’ net interest income for the first 9 months of this year amounted to more than 86.3 billion drams (a growth of 25.6% compared to the same period in 2011) and net non-interest income – minus 29 billion drams (against minus 22.8 billion drams in the same period of 2011).
At the same time as a result of payments made by banks to reserve fund in the event of possible losses in the amount of 96.2 billion drams, and 78.67 billion drams refund , net contributions amounted to 17.5 billion drams (against 14.5 billion drams in January-September 2011).
There are 21 banks in Armenia which operate 465 branches. ($ 1 – 407.30 drams). -0-
