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

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  • 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.
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