Armenian banks’ averaged return on assets index rose to 1.62 percent in the second quarter

YEREVAN, August 8. / ARKA /. Armenia-based commercial banks’ averaged return on assets (ROA) index, showing a company’s efficiency in making profits from its assets, rose to 1.62 percent in the second quarter from 1.39 percent in the previous quarter, according to findings of an analysis made by ARKA news agency.

The leading bank by size of ROA indicator was Inecobank, which posted a 4.22 percent ROA index that was up from 3.18 percent at the end of the first quarter. Inecobank was followed by HSBC Bank Armenia with a 3.7 percent index, up from 3.70 percent. The third was Araratbank with a 2.83% index, up from 2.54 percent. It was followed by Armswissbank with 2.75%, down from 3.63% and Prometey Bank was fifth with 2.51 percent, up from 2,17 percent.

The analysis shows also that the banks’ return on equity (ROE) indicator in the third quarter rose to 9.91 percent from 8.36% n the previous quarter. In terms of ROE indicator the leader bank was Inecobank with a 24.67 % index, up from 19.45% in the first quarter.

It was followed by HSBC Bank Armenia with a 21.33% index that rose from 21.33% in the previous quarter, Araratbank with a 18.60%, up from 17.200% , Ameriabank with a 14.70% index, down from 15.07% and VTB Bank (Armenia) with an 11.61%, up from 9.84 %. ($1 – 408.56 drams).

There are 21 banks in Armenia which run 478 branches across the country. ($1 – 409.49 drams). -0-

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