Annual total capital of 18 commercial banks in Armenia increases by 13.5% compared to previous year

The annual total capital of the 18 commercial banks in Armenia increased by 13.5% in 2023 compared to the previous year, making 1,484 billion drams, according to statistical data summed up by the Union of Banks of Armenia.

In 2023, total assets of these banks increased by 9.5%, making 9,191 billion drams.

The total liabilities of Armenia’s commercial banks increased by around 618 billion drams (8.7%) in 2023, making 7,707 billion drams, compared to 2022. During the same period, liabilities to bank customers increased by around 459 billion drams (9.1%), making 5,503 billion drams.

Credits and loans given to clients amounted to 5,036 billion drams by 2023 indicators, compared to 2022 (4,174 billion drams), the increase was 20.6%.

According to the results of 2023, the banking system of Armenia had around 230 billion drams of profit, compared to 2022 (253 billion drams), this indicator dropped by 9.2%.