Monday, August 6 2012 19:50
Net profit of Armenian banking system down 20.3% to $36.8 mln over year
ArmInfo. The gross income of Armenian banks as of the end of Jan-June 2012 amounted to 175.5 bln AMD ($419.9 mln), and expenditure amounted to 155.5 bln AMD ($372.1 mln). As a result, the banking system of Armenia completed the first half of 2012 with a pre-tax profit of 19.9 bln AMD, or $47.8 mln. The press service of the Central Bank of Armenia told ArmInfo that the summary net profit of the banks amounted to 15.4 bln AMD ($36.8 mln) as of the end of Jan-June 2012. As compared to the same period of 2011, the gross income of the banks grew by 30.1%, expenditure - by 40.5%, as a result, the pre-tax profit dropped by 17.4%, and the net profit - by 20.3%.
In the structure of gross income of the commercial banks, the interest revenues over Jan-June 2012 totaled 108.3 bln AMD ($259 mln), or 61.7%. The share of non-interest revenues made up 13.9%, or 24.4 bln AMD ($58.5 mln). The interest expenditure totaled 32.9%, or 51.1 bln AMD ($122.3 mln), and non-interest expenditure - 29.1%, or 45.2 bln AMD ($108.1 mln) in Jan-June 2012. As compared to the same period of 2011, interest revenues were up 32.1%, non-interest revenues - by 11.5%, interest expenditure - by 38.5%, and non-interest expenditure - by 19%.
As of 1 July 2012, there were 21 banks and 461 branches in Armenia (against 444 branches as of 1 April 2012).
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