ArmInfo.For the second year in a row, the Zangezur Copper- Molybdenum Combine (ZCMC) tops the  list of the largest taxpayers in Armenia. According to data from the State Revenue Committee, the company sent 70.8 billion drams to the state treasury in 2023 (with an y- o-y decline of 50.8%), of which 5.2 billion drams were for customs duties, 27.1 billion. drams - for direct taxes (including profit tax, income tax), 5.6 billion drams -  for indirect taxes (including VAT, excise tax).  

ArmInfo. The net profit of Armenian banks dropped by 9.2% in 2023 (after 3-fold increase  in 2022), amounting to 229.8 billion drams ($567.8 million) due to the deterioration of the y-o-y dynamics of non-interest income from a  4-fold increase to an almost 2-fold decline. Moreover, on a quarterly terms, profit began to decrease in Q3, then fell sharply down (-35%) in Q4, according to the data of the Express Ranking of Banks of Armenia as of December 31, 2023, prepared by ArmInfo IC.

ArmInfo.Mortgage loan debt per capita in Armenia for 9 months of 2023 amounted to $861 per person. The volume of the mortgage burden in the country is lower only than the indicators of Russia ($1397), ($1397), but significantly exceeds the indicators of Kazakhstan ($597), Belarus ($487), Azerbaijan ($198), Uzbekistan ($132) and Kyrgyzstan ($47).

ArmInfo. Since the introduction  of the 10% cashback program for pensioners and people receiving  benefits when paying with bank cards, from July 2022 to November  2023, Armenian pensioners have made non-cash purchases totaling 62  billion drams. Cashback amounted to 5.2 billion drams. Prime Minister  Nikol Pashinyan announced today at a meeting of the Cabinet of  Ministers.

ArmInfo. From December 25, 2023 to January 30 of the next year, borrowers with gold collateral can participate in the Ardshinbank raffle and win one of 100 gifts.

ArmInfo. Ardshinbank has announced a decision to opt out of traditional New Year corporate celebrations. Instead, the bank will redirect the earmarked funds towards assisting one hundred families from Artsakh who have faced displacement.

ArmInfo.On December 11, the Alexander Hotel hosted the presentation of “The Cultural Map” by Erin Meyer, a professor at INSEAD International Business School in Paris and an expert in intercultural management. Translated into Armenian and published by Newmag with Ardshinbank’s initiative and financial backing, the event featured insights into the author's creative journey.

ArmInfo.In 2024, the program for the return of pensions and benefits for transactions on  non-cash payments for beneficiaries will not undergo any changes, Minister of Finance of the Republic of Armenia Vahe Hovhannisyan stated on December 6, during the presentation of the final version of  the draft state budget of Armenia for next year. 

ArmInfo.Ardshinbank has been distinguished as the Bank of the Year in the country for 2023 by The Banker, a renowned international financial publication under the Financial Times Group. In a comprehensive evaluation, financial organizations were rigorously assessed across various performance criteria, including growth, profitability, operational efficiency, asset quality, liquidity, and reliability, among others.

ArmInfo.The European Bank for Reconstruction and Development (EBRD) and the European Union have provided Ardshinbank with a $20 million credit for the development of Micro, Small, and Medium-sized Enterprises (MSMEs) in Armenia. The financial package aims to support growth, competitiveness, and green economy initiatives in Armenia. The agreement was signed on November 24 in Yerevan.

ArmInfo.The profits of Armenian banks, which sharply increased over the past year by leaps  and bounds in foreign exchange transactions, are beginning to slow  down significantly in growth rates.

ArmInfo.Ardshinbank and Dalan Technopark have announced the signing of a cooperation agreement. Ardshinbank has become the main partner of the technopark, financing one of the largest projects in the construction industry.

ArmInfo. In Armenia, Acba Bank and Converse Bank are starting to issue cards of the China UnionPay  system. Let us remind you that Acba Bank has been servicing China UnionPay cards since October 2019. ArmInfo was informed by Acba Bank and Converse Bank.

ArmInfo.Armenia's banking system is making half-hearted attempts to reanimate corporate lending, which snowed a decline last year, against a backdrop of accelerated growth in private loans, which ensure acceptable return on and diversification of assets. However, such activity requires special attention needed for preventing delinquent loans from turning into risky ones.  

ArmInfo.On November 17, Ardshinbank officially opened the new “Vardanants” branch, which is a specialized in serving and financing small and medium-sized business clients. While the branch specializes in meeting the unique needs of businesses, it also extends its services to individuals, offering a comprehensive range of modern banking solutions provided by Ardshinbank.

ArmInfo. Daniel Azatyan was elected as the new chairman of the Union of Banks of Armenia (UBA)  for a term of 3 years. This is noted in the UBA message, which states that he assumed this position on November 15.

ArmInfo.The British financial magazine Euromoney has awarded Ardshinbank with two prestigious titles: "Best Corporate Bank" and "Best Bank for ESG" (Environmental, Social, and Governance). Earlier in 2023, Euromoney named Ardshinbank the best bank in Armenia for the third time. The "Euromoney Awards for Excellence" competition is held annually, and international experts select the best banks from 100 countries in various categories.

ArmInfo.The banking system of Armenia in Jan-Sept 2023 sent 111.8 billion drams or $284.1 million to the state treasury through taxes, which is 2.4-fold higher than the year-ago. Of this amount, 91.1% or 101.9 billion drams were paid for direct taxes (including profit tax and income tax), with an increase of 2.6-fold over the year, according to the data from the State Revenue Committee.

ArmInfo. Starting from October 26 of this year, nominal coupon bonds issued by the Eurasian Development Bank (EDB)  have started to be listed  for the first time on the main (Abond) list of bonds at the Armenia Securities Exchange.

ArmInfo.