YEREVAN, October 26. /ARKA/. Aggregate profits of Armenia’s banks for Jan-Sept 2015 totaled about AMD 23.1 billion – 53.4% less than at the same period a year before.
Fourteen of Armenia’s 21 commercial banks received profits in Jan-Sept 2015, while seven sustained losses amounting to AMD 9.9 billion. At the same period a year earlier, six banks accounted for losses, which totaled AMD 3.6 billion.
Banks’ profits started dwindling in the second quarter 2014 and this continues also now.
ARKA News Agency issued its 3rd Q profitability ranking for Armenian commercial banks.
HSBC Bank Armenia, with its net profit amounting to AMD 5 billion and 10.65% year-on-year decline, is topping the ranking.
Ameriabank, profit amounted to AMD 4.8 billion showing a 5.43% decline, was the second biggest profit-gainer among Armenian commercial banks in the third quarter.
Inecobank, with its AMD 3.3 billion and 4.39% year-on-year decline, came third in the ranking. Ardshinbank, with AMD 2.2 billion and 44.3% decline, ranked fourth and Armbusinessbank, with AMD 2 billion and 34.7% decline, fifth.
These five banks’ aggregate profits for nine months of this year amounted to AMD 17.4 billion.
The profitability ranking is based on ARKA News Agency’s ‘Banks of Armenia’ Bulletin.-0-
