Wednesday, June 23 2010 15:06
Armenia's banking system to ensure profit of 20 bln drams in 2010
ArmInfo. Armenia's banking system will ensure profit of about 20 bln drams upon the results of 2010. Such a forecast was made today by Head of Central Bank's Department of Financial System Policy and Financial Stability Vahe Vardanyan.
According to him, commercial banks of Armenia have already succeeded to ensure profit of about 8 bln drams over the first five months of 2010, while the banks' total profit over 2009 made up 8.5 bln drams. "Taking into account the fixed tendencies, we consider the profit to be expected for the current year quite realistic", he said and added that the profit being forecasted for 2010 comparatively yields to the indicator of 2008 (according to CB data, the banks' total profit for 2008 made up 27.1 bln drams), however, it is quite possible to achieve the indicators of the pre-crisis period during the next few years.
According to the Ranking of Armenia's commercial banks, prepared by the Agency of Rating Marketing Information (ArmInfo), total profit of Armenia's commercial banks over the 1st quarter of 2010made up 6.8 bln drams, moreover, 58,3% of profit was ensured due to five commercial banks: ACBA-Credit Agricole Bank (1st position), HSBC Bank Armenia (2nd), Ardshininvestbank (3rd), VTB Bank (Armenia) (4th) and Converse Bank (5th).
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan