YEREVAN, August 17. /ARKA/. Out of 35 credit organizations operating in Armenia, 32 were profitable in the first half of 2018 with total profit amounting to 24.6 billion drams, according to ARKA news agency’s ranking of the 10 most profitable credit organizations. The other 3 companies reported losses to the tune of 27.6 million drams.
The net profit of all Armenian credit organizations in the first half of 2018 stood at 24.5 billion drams against 22 billion drams in the first half of 2017 (an increase of 11.3%). According to the ranking, five of the most profitable credit organizations were Export – Finance, the First Factoring Company, Bnakaran Yeritasardnerin, Aregak, and the National Mortgage Company.
Export -Finance earned 9.8 billion drams in net profit, down from 14.5 billion drams earned in the first half of 2017. The First Factoring Company’s net profit stood at 4.8 million drams, up from losses 16.4 million drams in the first half of 2017. Bnakaran Yeritasardnerin earned 2.7 billion drams in net profit, up from 2.5 billion drams a year earlier. Aregak’s net profit was 1.3 billion drams (an increase of 4.1%), and the National Mortgage Company earned 934.1 million drams, an increase of 30.2%.
The ranking is compiled based on ARKA news agency’s bulletin “Credit Organizations of Armenia”.
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