{"id":125004,"date":"2019-10-30T12:49:22","date_gmt":"2019-10-30T12:49:22","guid":{"rendered":"https:\/\/armbanks.am\/2019\/10\/30\/248856\/"},"modified":"2024-12-15T13:39:10","modified_gmt":"2024-12-15T13:39:10","slug":"seventeen-armenia-based-commercial-banks-earn-60-9-billion-drams-in-profit-in-nine-months-of-2019","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2019\/10\/30\/125004\/","title":{"rendered":"Seventeen Armenia-based commercial banks earn 60.9 billion drams in profit in nine months of 2019"},"content":{"rendered":"\n<p><strong>YEREVAN, October 30. \/AR\u041a\u0410\/.<\/strong> Seventeen Armenia-based commercial banks earned a total of 60.9 billion drams in profit in the first nine months of 2019, the chairman of the Union of Banks of Armenia Mher Abrahamyan told reporters on Wednesday.<\/p>\n\n\n\n<p>According to him, the banks&#8217; profit in the third quarter increased by 0.8% or by 177.1 million drams reaching 22.5 billion drams. <\/p>\n\n\n\n<p>\u201cIf we look at banks&#8217; profits over a 10-year period, we shall see it is quite high, but it should be considered in the context of comparison with their capital. In this context, the banks&#8217; profitability is on average 10%, which is significantly lower than in 2011-2012,&#8221; said Abrahamyan.<\/p>\n\n\n\n<p>According to him, the situation is similar in terms of return on assets (RoA), although the dynamics show a growth trend. &#8216;Despite the generally accepted opinion that local banks&#8217; profitability is high, the banking system of Armenia works with maximum margin,&#8217; he said.<\/p>\n\n\n\n<p>He said the margin is getting narrower due to high competition in the banking system, the need to improve the quality of services,  innovations and investment.<\/p>\n\n\n\n<p>According to him, the drop in margin affects the profitability of banks, which is undesirable, since it is a business and from the point of view of an investor it should be profitable.<\/p>\n\n\n\n<p>&#8220;The 60 billion drams earned as profit in 9 months seem to be much, but compared to the size of capital and assets, we cannot say that the banking system is attractive from an investment point of view,&#8221; Abrahamyan said.<\/p>\n\n\n\n<p>The banker noted that investments in deposits are more profitable than investments in the banking business.  ($1 &#8211; 476.15 dram). &#8211;0\u2014<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seventeen Armenia-based commercial banks earned a total of 60.9 billion drams in profit in the first nine months of 2019, the chairman of the Union of Banks of Armenia Mher Abrahamyan told reporters on Wednesday<\/p>\n","protected":false},"author":1,"featured_media":175102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12790,12299,319],"class_list":{"0":"post-125004","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-commercial-banks","11":"tag-profit","12":"tag-319"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/125004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=125004"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/125004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/175102"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=125004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=125004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=125004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}