{"id":87704,"date":"2015-05-15T17:39:20","date_gmt":"2015-05-15T17:39:20","guid":{"rendered":"https:\/\/armbanks.am\/2015\/05\/15\/242883\/"},"modified":"2024-12-15T13:18:01","modified_gmt":"2024-12-15T13:18:01","slug":"ranking-of-biggest-profit-gainers-among-armenias-commercial-banks-in-q1-2015","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/05\/15\/87704\/","title":{"rendered":"Ranking of biggest profit-gainers among Armenia\u2019s commercial banks in Q1 2015"},"content":{"rendered":"

YEREVAN, May 15. \/ARKA\/.<\/strong> ARKA News Agency\u2019s analysis shows that 14 of Armenia\u2019s 21 commercial banks ended the first quarter of this year with profits. Their aggregate net profit amounted to about AMD 8.5 billion in the period, as compared to AMD 11.3 billion earned by 16 banks in the same period of 2014.<\/p>\n

The remaining seven banks sustained losses totaling AMD 6.3 billion. It should be mentioned for comparison that in 2014 only five banks sustained losses, which totaled AMD 2.2 billion.<\/p>\n

Net profits earned by the banks in January-March this year amounted to about AMD 2.2 billion, a reduction of 75.2% compared to the same period of 2014.<\/p>\n

HSBC Bank Armenia, Ameriabank, Inecobank, ACBA-CREDIT AGRICOLE BANK and Ardshinbank are flagship banks in ARKA News Agency\u2019s ranking. Their profit amounted to AMD 5.6 billion.<\/p>\n

HSBC Bank Armenia, with its net profit amounting to AMD 1.67 billion and 11.58% decline in profits as compared to Q1 2014, is topping the ranking.<\/p>\n

Ameriabank is the second with its profits amounting to 1.47 billion drams (1.73% increase).<\/p>\n

Inecobank is ranked the third: its profits dropped by 9.48% to AMD 1 billion in the period.<\/p>\n

Profits of the fourth bank in the ranking, ACBA-CREDIT AGRICOLE BANK, stood at AMD 783.9 million, as compared to AMD 1.29 billion in loss in the same quarter of the last year.<\/p>\n

Ardshinbank came last in the ranking, with its profits having dropped by 53.14% to AMD 725.6 million.<\/p>\n

The banks that sustained losses in the first quarter of this year are as follows: BTA Bank \u2013 AMD 25.3 million, Armeconombank \u2013 AMD 57 million, Armenian Development Bank \u2013 AMD 174.2 million, Byblos Bank Armenia \u2013 AMD 175.6 million, Anelik Bank \u2013 AMD 583.5 million, VTB Bank (Armenia) \u2013 about AMD 1 billion and Artsakhbank \u2013 AMD 4.2 billion drams.<\/p>\n

Decline in banks\u2019 profits is caused by difficult economic situation in general and by financial shocks due to dram depreciation (16.11% in the first quarter). It should be also noted that the central bank had to tighten the foreign currency reserve requirement for the banks to ease pressures in forex market. As a result, banks\u2019 profits fell by 41% to AMD 27.1 billion.\"4en\"<\/a><\/p>\n

The ranking is based on ARKA News Agency\u2019s \u2018Banks of Armenia\u2019 Bulletin. For acquisition of the bulletin and the agency\u2019s other products you should apply to the marketing unit (e-mail: sales@arka.am). \u20130–<\/p>\n","protected":false},"excerpt":{"rendered":"

ARKA News Agency\u2019s analysis shows that 14 of Armenia\u2019s 21 commercial banks ended the first quarter of this year with profits. Their aggregate net profit amounted to about AMD 8.5 billion in the period, as compared to AMD 11.3 billion earned by 16 banks in the same period of 2014<\/p>\n","protected":false},"author":1,"featured_media":157666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12315,9214,9216,13105],"tags":[],"class_list":{"0":"post-87704","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-announces","8":"category-banks-en-en","9":"category-news","10":"category-ratings"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/87704","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=87704"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/87704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157666"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=87704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=87704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=87704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}