YEREVAN, November 16, /ARKA/. The net profit of all Armenian credit organizations in the first three quarters of 2017 tripled from the same time span of 2016 to 35.4 billion drams, according to Arka news agency.
Out of 35 credit organizations operating in Armenia 28 were profitable, whose total profits amounted to 35.56 billion drams, while the remaining seven organizations suffered a total of 194 million drams in losses.
The top five organizations by size of net profit were Export Finance, Bnakaran Yeritasardnerin, Aregak, Fast Credit and the National Mortgage Company.
The net profit of Export Finance was about 23.6 billion drams, an increase of 7.4 times compared to the same period last year. Bnakaran Yeritasardnerin posted 3.7 billion drams in net profit (an increase of 15.6%).
Aregak’s net profit increased by 52.3% to 2 billion drams. Fast Credit with a net profit of 1.56 billion drams was fourth (a decrease of 18.4%) and the National Mortgage Company with 1.12 billion drams in net profit was fifth, an increase of 12.4% compared to the same period last year. -0-
