Retained earnings of Armenian commercial banks drop by 20% in quarter 3 to 28.2 billion drams

YEREVAN, October 27. / ARKA /. The retained earnings of 21 commercial banks operating in Armenia stood at 28.2 billion drams on September 30, 2014, down from 35.3 billion drams from the year earlier, falling by 20.12%, according to ARKA news agency’s “Banks of Armenia” financial and economic bulletin which shows the banks’ performance in the third quarter 2014.

It is noteworthy that 15 of the 21 banks showed profits in the reporting period of time. The remaining six banks suffered 3.6 billion drams in losses. Five leading banks accounted for 75% of the overall net profits of all the banks.

The leading bank by size of net profit in the third quarter was HSBC Bank Armenia, which earned about 5.6 billion drams (the figure represented, however, a decline of 12.34% when compared to the same period of 2013. By the way, in terms of profit HSBC Bank Armenia has been ahead of other banks in the last four years, starting from 2010.

Ameriabank with 5.1 billion drams was second. The figure was 11.22% higher from the third quarter of 2013. Ardshininvestbank was third, earning 4 billion drams in net profit (a decline of 2% year-on-year).

It was followed by Inecobank with 3.5 billion drams in net profit, down 3.19% from the year earlier.
Armbusinessbank was fifth with a net profit of 3 billion drams, an increase of 83.74% year-on-year.

11112-1

The total assets of all 21 banks during the reporting period amounted to about 2.956 trillion drams (an increase of 0.6% compared to the beginning of the year). Their obligations declined by 0.52% to over 2.456 trillion drams and their total capital grew by 6.45% to 499.3 billion drams. ($ 1 – 408.38 drams). -0-

spot_img

POPULAR

About 10% of Armenia’s dram-denominated government debt is held by international institutional players: Central Bank Governor

Institutional players are entering the dram-denominated government debt market in Armenia, stated Martin Galstyan, Chairman of the Central Bank of Armenia.

Armbanks Weekly Digest: Key Events in Armenia’s Financial Market (May 18-24)

Last week, the Armenian financial market focused on bank restructuring mechanisms, the tax model for bank dividends, the regulatory agenda, comments from international financial institutions, and the development of financial literacy.

Central Bank of Armenia is concerned about the outpacing growth of lending and urges banks to exercise caution

The Central Bank of Armenia considers it important for commercial banks to exercise caution when providing new loans amid the outpacing growth of lending compared to revenues, stated Central Bank Chairman Martin Galstyan.

Dram-pegged stablecoins will significantly reduce cross-border payment costs – Galstyan

Stablecoins pegged to the Armenian dram will allow the population to make domestic payments and significantly reduce cross-border payment costs, stated Martin Galstyan, head of the Central Bank of Armenia, in response to a question from ARKA news agency.

Central Bank of Armenia estimated “unexpected losses of banks” under a three-year stress scenario at 185 billion drams

Unexpected losses of the Armenian banking system on the horizon of three-year stress testing at the Central Bank are estimated at about 2% of risk-weighted assets, or about 185 billion drams, said Martin Galstyan, Chairman of the Central Bank of Armenia, presenting the financial stability report for 2025.

LATEST NEWS

spot_imgspot_imgspot_img