YEREVAN, October 21. /ARKA/. The net profit of the Armenian banking system for January-September 2024 surpassed 267.6 billion drams, marking a 25% increase compared to the same period last year. This is evidenced by data from the reports of Armenian banks published in accordance with international IFRS standards. Of the total profit earned in the first nine months of this year, 95.5 billion drams, or 36%, was generated in the third quarter, which is 7.3% higher than the figure for the second quarter.
It should be noted that during the reporting period, all 18 banks operating in Armenia reported profits, although three of them experienced an 18% decrease in their profits. Meanwhile, the profits of 15 banks increased by 27.7% compared to the same period last year.
The total assets of Armenian banks as of September 30, 2024, amounted to 10,144.1 billion drams, reflecting an increase of 10.5% compared to the beginning of the year and 4.3% in the third quarter. The volume of bank credit investments, net of reserves, reached 5,758.4 billion drams, representing a 14.5% increase since the start of the year.
Total liabilities for the first nine months increased by 9.1% to 8,404.7 billion drams, with liabilities to customers amounting to 5,914.0 billion drams, reflecting a 7.2% increase compared to the beginning of the year.
The total capital of Armenian banks amounted to 1,739.4 billion drams, reflecting a 17.8% increase since the beginning of the year. -0-
