According to RA National Statistical Service, as of December 31, 2009 of 22 commercial banks in Armenia only 14 operated in the black, generating profit of AMD 12.4 billion. The rest eight banks ended the year in red totaling AMD 3.8 billion. Thus, total profit of Armenian commercial banks made AMD 8.6 billion.
In Q1 2010 net income of commercial banks reached AMD 4.2 billion (before tax – AMD 5.4 billion), whereas loss – AMD 0.4 billion, CBA reports.
Depository institutions’ indices decreased dramatically, having the total retained profit for Q1 2010 reduced by 93.5%. Within the mentioned period, net interest margin of 28 institutions totaled AMD 1822.6 million, while net interest loss reached AMD 301.4 million.
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