Tuesday, May 3 2016 17:23
Karine Melikyan

In Q1 2016 banking system of Armenia paid $19.4 mln in taxes

In Q1 2016 banking system of Armenia paid $19.4 mln in taxes

ArmInfo.  In Q1 2016, the bankingsystem of Armenia paid 9.3 bln AMD or $19.4 mln in taxes (4% lessthan a year before). Over 88% of this amount, or 8.2 bln AMD, was paid in direct taxes (including profit tax and income tax), 6% less than a year before. According to the Armenian State Revenue Committee, in Q1 2016 the top hundred taxpayers of Armenia included 13 out of the 21 banks (13 banks in Q1 2015). The top five taxpayers among the banks are ACBA-Credit Agricole Bank, Ardshinbank, VTB Bank (Armenia), Ameriabank and HSBC Bank Armenia (the same banks were also the top five in Q1 2015). In Q1 2016, these banks paid a total of 4.5 bln AMD in taxes (down 8% versus Q1 2015), including 4 bln AMD in
direct taxes (down 7% versus Q1 2015).

ACBA-Credit Agricole Bank is in the lead in terms of the taxes paid - 21st position on the list of the largest taxpayers. The bank paid 998.2 mln AMD, including 863.3 mln AMD in direct taxes. The following banks rank next: Ardshinbank - 22nd position (27th a year before) -
957.4 mln AMD, including 912.9 mln AMD in direct taxes; VTB Bank (Armenia) - 26th position (20th a year before) - 889.5 mln AMD, including 748.9 mln in direct taxes; Ameriabank - 27th position (31st a year before) - 843.5 mln, including 797.8 mln AMD in direct taxes; HSBC Bank Armenia - 30th position (32nd a year before) - 782.5 mln AMD, including 678.7 mln in direct taxes.

The top hundred taxpayers also include Unibank (41st position - 628.5 mln AMD, including 530.5 mln AMD in direct taxes), Armbusinessbank (43rd position - 608.1 mln AMD, including 545.5 mln AMD in direct taxes), INECOBANK (45th position - 604.1 mln AMD, including 551.5 mln AMD in direct taxes), Converse Bank (61st position - 436.4 mln AMD, including 402.2 mln AMD in direct taxes), Armeconombank (63rd position - 428.1 mln AMD, including 372.7 mln AMD in direct taxes), Anelik Bank (75th position - 350.9 mln AMD, including 325.6 mln AMD
in direct taxes), Areximbank-GPB Group (86th position - 315.9 mln AMD, including 231.7 mln AMD in direct taxes), and Armenian Development Bank (99th position - 263.7 mln AMD, including 243 mln in direct taxes).

The top two hundred taxpayers of Armenia also include ArmSwissBank - 102nd position - 261.4 mln AMD (including 249.1 mln AMD in direct taxes), Araratbank - 119th position - 230.4 mln AMD (including 202 mln AMD in direct taxes), Prometey Bank - 128th position - 216.3 mln AMD (including 203.7 mln AMD in direct taxes), and Byblos Bank Armenia - 156th position - 168.5 mln AMD (including 77.1 mln AMD in direct taxes).

The top 1,000 taxpayers of Armenia also include Mellat Bank - 205th position - 121.5 mln AMD (including 116.9 mln AMD in direct taxes), ProCredit Bank - 225th position - 112.4 mln AMD (including 100.6 mln AMD in direct taxes), Artsakhbank - 335th position - 70.8 mln
(including 47.6 mln AMD in direct taxes), and BTA Bank - 612th position - 36.5 mln AMD (including 31.6 mln AMD in direct taxes).

According to the Financial Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), in Q1 2016 the aggregate accumulated profit of the Armenian banking system amounted to 160.8 bln AMD (up 8.1% versus Q1 2015). The top five banks in terms of accumulated profit are HSBC Bank Armenia - 33.4 bln AMD, Ardshinbank - 26.8 bln AMD, Ameriabank - 20.9 bln AMD, ACBA-Credit Agricole Bank  16.6 bln AMD, INECOBANK - 14.7 bln AMD. In Q1 2016, the pre-tax profit of the banking system was 4.9 bln AMD (down 0.4% versus Q1 2015). Following the payment of taxes, the banking system ensured a
net profit of 3.1 bln AMD (down 14% versus Q4 2015). (On 31 March 2016, the AMD/USD exchange rate was 480.79 AMD/$1).

It is noteworthy that in Q 4 2015 ProCredit Bank and BTA Bank announced about leaving the market by merging with INECOBANK and Armeconombank respectively. Consolidation of the banks is determined by the fact that the banks have to meet the regulator's newminimum total capital requirement (30 bln drams starting from 1 Jan 2017). As of April 1 2016, only 6 banks have ensured this requirement- Ameriabank, ACBA-Credit Agricole Bank, HSBC Bank Armenia, Ardshinbank, INECOBANK and VTB Bank (Armenia). Armbusinessbank ranks
next, the total capital of which is slightly less than the required 30 bln. 


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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000