Thursday, October 28 2010 14:13
Armenian banking system ensures $57 million profits for 9 months of 2010
ArmInfo. Gross income of Armenian commercial banks for 9 months of 2010 totaled 172.1 billion drams ($476.4 million), expenses totaled 146 billion drams ($404.1 million). In fact, the banking system ensured 26.1 billion drams or $72.2 million drams balance profit for 9 months of 2010. The
Armenian Central Bank told ArmInfo summary net profit of commercial banks for 9 months of 2010 totaled 20.666 billion drams ($57.2 million). Gross income of commercial banks for Q3 2010 totaled 60.3 billion drams, expenses - 49.3 billion drams, balance profit - 11 billion drams and net profit - 8.8 billion drams.
Interest incomes for 9 months of 2010 totaled 98.989 billion drams ($274 million) or 57.7% of gross incomes. The share of non-interest incomes totaled 16.1% or 27.655 billion drams ($76.5 million). Interest expenses totaled 29.4% or 42.945 billion drams ($118.9 million) and non-interests expenses totaled 33.8% or 49.301 billion drams ($136.5 million).
As of October 1 2010, the banking sector of Armenian encompassed 21 operating commercial banks and 400 branches (versus 393 branch as of June 30 2010).
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