Banks of Armenia: the results of the first half of 2009
According to the Central Bank of Armenia, gross revenue of all commercial banks of the Republic has increased by 30 % in the first half of 2009 as against of the same period of 2008, and totaled 95.5 billion drams ($265.3 million). Expenditures have totaled 94.4 billion drams ($262.3 million), it’s increased by 60.5 % as against of the same period of 2008.
As a result the banking system of Armenia has closed the first half of the year with 1.1 billion drams ($3.1 million) in balance sheet profit. The loss after taxes has totaled 407.7 million drams ($1.1 million) against of 11.3 billion drams ($30 million) in profit in the first half of the year 2008.