Mon, 4 August
24.7 C
Yerevan
USD: 383.84 RUB: 4.70 EUR: 442.91 GEL: 141.90 GBP: 512.96

Armenia-based commercial banks report growth in all major indicators

YEREVAN, October 28. /ARKA/. In the first 9 months of 2019 Armenia-based commercial banks reported growth in all major indicators, according to their reports, published in accordance with International Financial Reporting Standards (IFRS).

According to these reports, the net profit of the banks amounted to 60.9 billion drams, up from 51.7 billion drams, they had earned in the first 9 months of 2018. The rise was 18%.

It is noteworthy that all 17 commercial banks operating in the country closed the first three quarters of the year with profit.

The aggregate assets of the banks as of September 30, 2019 stood at 5.395.4 trillion drams, an increase of 9.2% if compared to the beginning of the year. The banks’ lending also increased by 10% to 3.370.9 trillion drams.

Their total liabilities amounted to 4.576.7 trillion drams, having increased by 9.2% compared to the beginning of the year. Liabilities to customers amounted to 3.191.2 trillion drams, showing an increase of 11.9%.

The reports also suggest the total capital of banks increased by 8.7% to 818.6 billion drams. ($1-475. 87 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

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.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

LATEST NEWS

spot_imgspot_imgspot_img