YEREVAN, February 20. /ARKA/. According to a ranking of Armenia’s most profitable credit organizations in 2018, compiled by ARKA news agency, out of 38 credit organizations operating in the country 31 were profitable with a total net profit amounting to 55.9 billion drams. The other seven organizations posted a combined loss of 881.5 million drams.
The net profit of all Armenian credit organizations in 2018 totaled 55.1 billion drams, up from 51.3 billion drams earned in 2017.
The five most profitable credit organizations were Export Finance, First Factoring Company, Bnakaran Yeritasardnerin, Varks.am and Aregak.
Export Finance posted about 19.9 billion drams in net profit, down from 35.4 billion drams in 2017.
The First Factoring Company’s net profit was 16.2 billion drams, up from 158.3 million drams in 2017.
Bnakaran Yeritasardnerin posted 5.4 billion drams in net profit, up from 5.1 billion drams in 2017.
Varks.am earned 2.9 billion drams in net profit. In 2017 it posted a loss of 371.5 million drams.
Aregak’s net profit in 2018 amounted to about 2.6 billion drams against 2.8 million drams in 2017.
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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