YEREVAN, November 5. /ARKA/. ARKA News Agency has released the ranking of the biggest profit-gainers among Armenia’s commercial banks for Jan-Sept 2019. The Armenian banking sector’s aggregate net profit for Jan-Sept 2019 amounted to AMD 60.9 billion against the AMD 51.7 billion of the same period a year before showing a 18% year-on-year growth. All the 17 banks of the country operated with profits.
Top 5 profit-gainers are Ameriabank, Ardshinbank, ArmSwissbank, Inecobank and ACBA-CREDIT AGRICOLE BANK. Their profits made up 56% of the banking sector’s aggregate profits.
Ameriabank, with its AMD 8.8 billion against the AMD 8.1 billion gained over the same period a year earlier and 8.5% year-on-year growth, is topping the ranking.
Ardshinbank, with AMD 8.3 billon against 4.7 billion and a 76% growth, came second in the ranking.
ArmSwissbank is ranked third with its AMD 6.5 billion and 51.8% growth, Inecobank fourth with AMD 5.2 billion and a 6.5% decline and ACBA-CREDIT AGRICOLE BANK with AMD 5.1 billion against AMD 5.6 billion and a 7.7% decline.
The ranking is based on ARKA News Agency’s “Banks of Armenia” Bulletin, which is composed by using banks’ reports released in conformity with IFRS. To acquire the Bulletin and the agency’s other products one can contact the marketing unit (е-mail: sales@arka.am). -0—
