Tuesday, February 12 2013 21:38
Armenian companies ensured 6.2 bln AMD pretax profit in Q4 2012
ArmInfo. In Q4 2012 the summary total revenues of the Armenian credit companies amounted to 35 bln AMD (19% growth versus Q4 2011), the Central Bank of Armenia told ArmInfo.
The source says that the total expenditures of the credit companies amounted to 28.8 bln AMD (23.6% growth versus Q4 2011). As a result of prevalence of revenues over expenditures, the companies ensured 6.2 bln AMD pretax profit (1.6% growth versus Q4 2011).
The net profit of the credit companies totaled 4.8 bln AMD against 4.9 bln AMD over Q4 2011.
In the structure of the credit companies' total revenues, the interest revenues made up 58%, or 20.3 bln AMD (35.3% growth versus Q4 2011). The share of non-interest revenues made up 18%, or 6.3 bln AMD (1.6% growth versus Q4 2011).
The interest expenditures amounted to 7.5 bln AMD, or 26% (56.2% growth versus Q4 2012), and non-interest expenditures - 10.9 bln AMD, or 37.8% (36.2% growth versus Q4 2011).
As of 1 Jan 2013, there were 32 credit companies and 100 branches in Armenia. There are 28 UCOs, 3 leasing companies and 1 credit union. Four of the UCOs specialize in mortgage lending - First Mortgage Company, Fides, National Mortgage Company and Affordable Housing for Young Families.
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