Armenian banks for 2017 sent 40.1 billion AMD to state treasury with annual growth of 16.6%

ArmInfo.  In 2017, the Armenian banking system sent 40.1 billion AMD of taxes to the state treasury, which is 16.6% higher than the figure of a year ago. Of this amount, over 89% or 35.7 billion AMD was paid on direct taxes (including income tax and income tax), with an annual growth of 18.6%.

According to the RA State Revenue Committee, in the first hundred of the largest taxpayers of Armenia, 12 out of 17 operating banks fell on the results of 2017 (as a year ago). Among them, Ardshinbank, VTB Bank (Armenia), ACBA-Credit Agricole Bank, Ameriabank and Armbusinessbank turned out to be in the top five taxpayer banks, four of which appeared in the top five and a year earlier. In 2017, the top five banks sent 20.4 billion drams to the state treasury (an annual growth of 22.2%), of which 18.5 billion drams - on direct taxes (annual growth of 22.5%).

The leader among the banks in terms of the amount of taxes paid - Ardshinbank took 26th place (compared to 39th year earlier) in the list of large taxpayers, sending 4.7bln AMD to the state budget, of which 4.4bln AMD - direct taxes (including tax on profit and income tax). Then follow: VTB Bank (Armenia), which occupied the 29th place (as well as the year before) and paid taxes for 4.2 billion drams, out of which 3.6 billion drams - direct taxes, ACBA-Credit Agricole Bank - 30 place (against 31 a year earlier), which paid 4.2 billion drams, of which 3.7 billion - direct taxes, Ameriabank - 32 place (against 25th year earlier) - 4 billion drams, of which 3.8 billion - on direct taxes. The first five banks-large taxpayers is closed by Armbusinessbank, which took 43rd place (compared to 45th a year earlier) and paid 3.3bln drams, of which 2.8bn - on direct taxes.

In the first hundred of large taxpayers, INECOBANK also entered 44th place (3bn, out of which 2.8bn - under direct taxes), Anelik Bank - 48th place (over 2.7bn, of which 2.3bn - under direct taxes), Unibank - 52nd place (2.7bln AMD, of which 2.1bln AMD - on direct taxes), Converse Bank - 55th place (2.5bn, out of which 2.3bn - on direct taxes), Araratbank - 73rd place (2bln. AMD, of which 1.7 billion - on direct taxes), Armswissbank - 80th place (1.8 billion, out of which 1.7 million - on direct taxes) and Armeconombank (85th place - 1.7 billion, of which 1.5 billion - in direct taxes).

In the second hundred of the largest taxpayers of Armenia, Evocabank ranked 113th (1.3bln AMD, out of which 1.1bn on direct taxes), HSBC Bank Armenia - 149th place (945.5mln AMD, out of which 680.5mln on direct taxes).

The list of 1000 large taxpayers of Armenia also included Mellat Bank - 241 places (582.8 million drams, of which 554.6 million drams - under direct taxes) and Artsakhbank - 594 place (211 million drams, of which 189.5 million on direct taxes).

According to the Financial Rating of the Armenian Banks, prepared by NA ArmInfo, the aggregate accumulated profit of the Armenian banking system amounted to 157.3 billion drams by the end of 2017, with an annual decline of 9.6%. The top five leaders in terms of accumulated profit are Ameriabank - 29.8 billion AMD, ACBA-Credit Agricole Bank - 20.4 billion AMD, HSBC Bank Armenia - 20.1 billion drams, INECOBANK - 19.3 billion AMD and Armswissbank - 14.7 billion AMD. In 2017, the banking system completed with a balance-sheet profit of 48.5 billion AMD (an annual growth of 25.2%), which after taxes paid a net profit of 38.3 billion AMD with an annual growth of 15.6%. Only for the IV quarter of 2017 net profit of the banking system fell by 14.2% to 8.8 billion AMD.