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-
