Total capital of Armenian banks in 9 months of 2024 increased by 18% or 263 billion drams

YEREVAN, 4 November. /ARKA/. Eighteen Armenia-based commercial banks posted 18 percent rise (263 billion drams) in their total capital in the first 9 months of 2024, which rose to 1,739.4 billion drams, according to their statements, published in accordance with IFRS.

The capital growth was ensured mainly due to the net profit of 267.6 billion drams. At the same time, during the reporting period the banks paid 88.3 billion drams in dividends to shareholders

Four banks increased their authorised capital by 87.7 billion drams, 82% of which was due to full or partial reinvestment of profit by shareholders (through direct replenishment of the authorised capital and reinvestment of funds received as dividends).

As a result, the authorised capital of the Armenian banking system increased from 737.4 billion drams at the beginning of the year to 825․1 billion drams in late September 2024.

During the mentioned period, revaluation reserves for fixed assets and securities at fair value through other comprehensive income increased by 15.4 billion drams, while reserves for share-based payments dropped by 105.5 million drams․

Also, the total assets of the  banks increased by 10.5% since the beginning of the to 10,144.1 billion drams, their  investments (in the form of loans), net of reserves, grew by 14.5% to 5,758.4 billion drams, the total liabilities upped  by 9.1% to  8,404.7 billion, and liabilities to customers – by 7.2%, to 5,914.0 billion drams. ($1 – 387.17 drams) -0-

spot_img

POPULAR

Dram-pegged stablecoins will significantly reduce cross-border payment costs – Galstyan

Stablecoins pegged to the Armenian dram will allow the population to make domestic payments and significantly reduce cross-border payment costs, stated Martin Galstyan, head of the Central Bank of Armenia, in response to a question from ARKA news agency.

Head of Central Bank named two main risks for financial stability

There are two main risks for the financial stability of Armenia: one is associated with external factors, the other with internal processes, said the Chairman of the Central Bank Martin Galstyan, presenting the financial stability report for 2025.

About 10% of Armenia’s dram-denominated government debt is held by international institutional players: Central Bank Governor

Institutional players are entering the dram-denominated government debt market in Armenia, stated Martin Galstyan, Chairman of the Central Bank of Armenia.

Euro, dollar, and ruble exchange rates against the Armenian dram rose: Central Bank of Armenia

The average market exchange rate for the US dollar against the Armenian dram, as of May 27, 2026, increased by 0.31 points compared to May 26, reaching 368.05 drams.

“We are switching you to 5G, type a command”: IDBank warns about a fraud disguised as a “network update”

Amid the active expansion of fifth-generation mobile networks in Armenia, a rise in fraud activity has been recorded. Scammers, posing as employees of telecommunications companies, offer to “upgrade settings” or “activate 5G” using phone commands.

LATEST NEWS

spot_imgspot_imgspot_img