Monday, May 4 2015 21:26

Armenian banks pay 9.7 bln drams taxes to state budget for Q1 2015

Armenia's banking system paid 9.742 bln drams taxes (including 8.681 bln drams income and profit taxes) to the state budget in Q1 2015, which is by 9.2% more than a year ago. According to the State Revenue Committee of Armenia, top 100 taxpayers for Q1 2015 include 13 out of 12 operating banks (versus 11 in Q1 2014). 

Top five of taxpayer - banks comprises VTB Bank (Armenia), ACBA-Credit Agricole Bank, Ardshinbank, Ameriabank, and HSBC Bank Armenia.  VTB Bank (Armenia) is the leader among banks and the 20th in the top 100 of taxpayers - 1.167 bln drams tax payments, including 966.8 mln drams profit and income tax.  Then go ACBA-Credit Agricole Bank (21st place )  with 1.063 bln drams tax payments (incl. 956.6 mln drams profit and incomes taxes), Ardshinbank (27th place) - 928.5 mln drams (incl. 791.1 bln drams profit and incomes taxes), Ameriabank (31st place) - 856.3 mln drms (incl. 825.1 mln drams profit and incomes taxes). HSBC Bank Armenia rounds out the top five taxpayer-banks (32nd place) - 849.8 mln drams tax payments (incl.  755.7 mln drams profit and incomes taxes).

Among top 100 taxpayers are also Armbusinessbank (39th place) - 659.7 mln drams, INECOBANK (46th place) - 576.9 mln drams, Unibank (49th place) - 562.6 mln drams, ARARATBANK (59th place) - 450.1 mln drams.  Anelik Bank (69th place) - 403 mln drams, Armeconombank (70th place) - 397.3 mln drams, Converse Bank (73rd place) - 364.9 mln drams, and Arximbank-GPB Group (82nd place) - 320.1 mln drams.

Top 200 taxpayers include Prometey Bank - 106th place (243.8 mln drams), Armenian Development Bank (115th place) - 213.6 mln drams, ArmSwissbank (123rd place) - 202.2 mln drams. ProCredit Bank (157th place) - 157.5 mln drams. Byblos Bank Armenia (158th place) - 156.7 mln drams.  The following banks occurred among top 1000 taxpayers of Armenia: Artsakh Bank - 418th place - 56.9 mln drams. Mellat Bank - 439th place - 54.2 mln drams, BTA Bank - 496 drams  - 503rd place - 46.4 mln drams.

According to the Financial Rating of Armenian Banks  prepared by ArmInfo, the aggregate accumulated profits of the banking system of Armenia for Q1 2015 totaled 148.6 bln drams. with a 12.7% year over year decline.  Top five banks by accumulated profits are HSBC Bank Armenia - 27.9 bln drams. Ardshinbank - 24.3 bln drams, Ameriabank - 18.5 bln drams, ARARATBANK - 13 bln dram. And INECOBANK - 11.6 bln drams. 

The Central Bank's  exchange rate for Mar 31 2015  w3as 471.13 drams per 1 US dollar. 

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