ArmenPress
Nov. 4, 2004
COMMERCIAL BANKS REPORT 6 PERCENT STOCK GROWTH
YEREVAN, NOVEMBER 4, ARMENPRESS: Nineteen Armenian commercial banks,
monitored by the Central Bank, reported a 6.1 percent growth in their
stock in the third quarter over the previous three months, which they
said amounted to 59.150 billion drams.
According to the Central Bank, 19 of 20 commercial banks increased
their overall liabilities by 10.3 percent in the third quarter, which
stood at 281.5 billion drams, while their aggregate assets rose by 9.6
percent making 340.7 billion drams. The share of cash in the 19 banks
assets was almost 28 billion drams, a 44.4 percent growth over the
second quarter.
As of September 30 the gross income of these 19 banks was 40.8
billion drams, expenditures -31.6 billion drams and net profits
amounted to 7.4 billion drams. The local commercial banks also reported
more loans, by 9 percent, released to resident clients, which made 132
billion drams. Some 35.5 billion of them were channeled into industry,
7.6 billion into agriculture, 6 billion into construction and 29
billion into trade.