Retained Profit of Armenia’S Banking Sector Totals $53.9 Mln July 30

RETAINED PROFIT OF ARMENIA’S BANKING SECTOR TOTALS $53.9 MLN JULY 30
Yerevan, August 1. ArmInfo. The retained profit of Armenia’s banking
system grew by 3.5% in Jan-June 2006 and by 39.9% as against Jan-June
2005 to 22.6 bln AMD ($53.9 mln). The share of retained profit in
the total capital was 22.1%.
According to ArmInfo’s ranking of commercial banks of Armenia, the
leader in retained profit are Converse Bank – 4.9 bln AMD or $11.7 mln
(12.9% growth in Jan-June 20065 and 45.2% growth as against Jan-June
2005), HSBC Bank Armenia 4.6 bln AMD or $10.9 mln (+27.2% and +34.6%
respectively), Anelik Bank 3.8 bln AMD or $9 mln (+9.1% and +35.3%)
and INECO 2.2 bln AMD or $5.3 mln (+4.7% and +34.7%).
12 of 21 banks shown growth in the index in Jan-June 2006 and 14 banks
as against Jan-June 2005. Unibank showed 153.8% growth and Prometey
391.6% respectively.
Of 7 banks who retained profit dropped, the leader is ITB Bank 104.2%
to loss of 2.5 mln AMD.