YEREVAN, March 5. / ARKA /. ARKA News Agency has compiled the ranking of Armenian credit organizations by the size of profit they made in 2014. Overall, they earned last year a little over 7.9 billion drams in net profit, a 27.3% rise from the previous year.
Profits were reported by 28 credit organizations of the total 32 operating in Armenia. Four organizations posted some 313.3 million drams in losses. In 2013 only 3 credit organizations reported losses in the amount of 76 million drams.
The five most profitable credit organizations last year -Aregak, Bnakaran Yeritasardnerin, National Mortgage Company, Finca and Express Credit – accounted for 65.5% or about 5.2 billion drams of the total profits of the credit organizations.
The largest growth was reported by Finca-516.8 million drams. This compares with a 21 million loss it sustained in 2013. The largest decline in net profit was posted by Credo Finance- 96.9 million drams. In 2013 it earned 1.3 million in net profit.
The ranking is compiled based on ARKA news agency’s quarterly bulletin ‘Credit Organizations of Armenia).-0-
