Thursday, October 28 2010 16:43
Over Jan-Sep 2010 profit of Armenia's credit organizations made up $7.2 mln
ArmInfo. Over Jan-Sep 2010 the summary total revenues of Armenia's credit organizations amounted to 14.4 bln AMD ($39.8 mln), and total expenditures - 11.4 bln AMD ($31.5 mln). As result of prevalence of revenues over expenditures, the credit organizations ensured 3 bln AMD ($8.4 mln) balance profit. Over Jan-Sep 2010 the net profit of the credit organizations made up 2.6 bln AMD ($7.2 mln), the press service of the Central Bank of Armenia (CBA) told ArmInfo.
In the structure of total revenues, the interest revenues amounted to 8.7 bln AMD ($24.2 mln), or 60,4%. The share of non-interest revenues made up 17,3%, or 2.6 mln AMD ($7.1 mln). In the structure of the total expenditures interest expenses amounted to 2.9 bln AMD ($8 mln), or 25,4%, and non-interest expenses - 4 bln AMD ($11.1 mln), or 35,3%.
According to the CBA, as of 1 October 2010, there were 32 credit organizations and 60 branches in Armenia. Two UCOs – Washington Capital (specializing in mortgages) and Credit Union (everything except mortgages) have merged into a single UCO Global Credit registered by the CBA on 26 October 2010.
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