Sat, 14 June
24.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Ingo Armenia earns 900 million drams in profit

YEREVAN, December 28. /ARKA/. Ingo Armenia insurance company earned a total of 900 million drams in profit in the first 11 months of this year, Ingo Armenia CEO Arevshat Meliksetyan told a news conference today.

He said the company’s assets in the first 11 months were worth about 11 billion drams, its liabilities stood at about 7 billion drams, its own capital – at 3.9 billion drams. The company collected also 8.4 billion drams in insurance premiums and paid 3.4 billion drams in damage compensation claims.

According to him, the company’s return on assets (ROA) and return on equity (ROE) indexes were 10% and 25% respectively.

The company paid also more than 400 million drams in taxes. Currently, Ingo Armenia has 267 people on its payrolls having secured a 14% increase compared to last year.

“We have 200 thousand individual and 1,300 corporate clients. One of our major objectives is to ensure financial stability, including the liquidity ratio, which is twice the standard, as well as our ability to pay, which is by 50% higher of the limit set by the central bank,”- Meliksetyan said.

Ingo Armenia was founded in 1997 as insurance company Efes. In December 2003, 75% of the company was purchased by Russian Ingosstrakh, after which the company was renamed Ingo Armenia issuance company. ($ 1 – 482.68 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

High profitability of Armenian banks in 2024 was facilitated by growth in net interest income and low level of credit losses – Galstyan

High profitability was recorded in the banking system of Armenia at the end of 2024, which was facilitated by growth in net interest income and low level of credit losses, said Martin Galstyan, Chairman of the Central Bank of the Republic, presenting the financial stability report for 2024.

Euro and dollar exchange rates to the Armenian dram fell, the ruble rose slightly

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 9, 2025, fell by 0.36 points compared to June 6 and amounted to 383.46 drams.

LATEST NEWS

spot_imgspot_imgspot_img