YEREVAN, February 21 / ARKA /. According to a ranking of Armenia’s most profitable credit organizations in 2017 compiled by ARKA news agency, out of 35 credit organizations operating in the country 30 were profitable with a total profit amounting to 51.9 billion drams. The other five organizations posted a combined loss of 406.3 million drams.
The net profit of all Armenian credit organizations in 2017 totaled 51.5 billion drams, up from 19.5 billion drams earned in 2016.
The five most profitable credit organizations were Export Finance, Bnakaran Yeritasardnerin, Aregak, Fast Credit, and the National Mortgage Company.
Export Finance credit organization posted 35.4 billion drams in net profit, up from 7.8 billion drams in 2016. It was followed by Bnakaran Yeritasardnerin with a profit of 5.1 billion drams (an increase of 15.9%). Aregak reported 2.8 billion drams in net profit (an increase of 62.4%). Fast Credit was fourth with a profit of 2 billion drams (a decline of 13.6%). And the National Mortgage Company posted a 14.4% rise from the previous – about 1.49 billion drams in net profit.
The ranking of credit organization by size of net profit in 2017 is based on data from ARKA news agency’s quarterly bulletin “Credit Organizations of Armenia”.
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