Armenian banks in the first half of 2018 sent 27.6 billion AMD in  taxes to the state treasury 

ArmInfo.The Armenian banking system sent 27.6 billion drams to the state treasury in the first half of 2018, which is 26% higher than the figure of a year ago. Of  this amount, over 87.3% or 24.1 billion drams was paid on direct  taxes (incl. tax on profits and income tax), with an annual growth of  40.6%. The top five banks of taxpayers - Ameriabank, ACBA-Credit  Agricole Bank, INECOBANK, Ardshinbank and VTB Bank (Armenia), sent to  the state budget in the first half of 2018 a total of 15.3 billion  drams (annual growth of 34.2%), of which 14 billion drams - on direct  taxes (annual growth of 33.3%). According to the RA State Revenue  Committee, in the first hundred of the largest taxpayers of Armenia  in the first half of 2018, out of 17 operating banks, 13 as many as a  year ago fell.

The leader among the banks in the list of large taxpayers in terms of  the amount of taxes paid: Ameriabank, which took 19th place (against  22th year earlier), sending to the state budget 3.8 billion drams, of  which 3.5 billion drams - direct taxes (including tax on profits and  income tax). It is followed by ACBA-Credit Agricole Bank - 22nd place  (against 23rd year earlier) - 3.6bln AMD, of which 3.3bn - on direct  taxes; INECOBANK - 27th place against 38th a year earlier, paying  taxes on 2.9bn, of which 2.8bn - on direct taxes; Ardshinbank - 31st  place (against 19th year earlier), paid 2.5bln AMD, of which 2.3bn -  direct taxes; and closes the top five VTB Bank (Armenia) - 33rd place  (against 24th year earlier) - 2.4 billion drams, of which 2.1 billion  drams - direct taxes.

The first hundred large taxpayers also included Armbusinessbank,  which took 36th place and paid 2.2 billion drams, of which 2 billion  - on direct taxes; Converse Bank - 37th place, paying taxes on 2bln  AMD, of which 1.9bn - on direct taxes; Armeconombank - 50th place  (1.4 bln., Of which 1.3 bln. - on direct taxes); Armswissbank - 65th  place (more than 1.1 bln., Of which 1.1 bln - on direct taxes);  Unibank - 68 place (1.1 billion drams, of which 948.2 million drams -  on direct taxes); Araratbank - 71 place (1 billion, of which 961.2  million - on direct taxes); HSBC Bank Armenia - 83 place (972 6  million drams, including 920 million - for direct taxes); IDBank - 87  place (941 million, of which 529.1 million - on direct taxes).

In the second hundred of the largest taxpayers of Armenia only  Evocabank - 136 place (611 million, of which 556.2 million - under  direct taxes) fell and Mellat Bank - 152 places (513.5 million, of  which 493.3 million - on direct taxes).

The list of 1000 large taxpayers of Armenia also includes Byblos Bank  Armenia - 306th place (225.6 million drams, including 193 million  drams - under direct taxes), and Artsakhbank - 619 place (105.8  million, incl. 96.4 million - on direct taxes).

According to the Financial Rating of the Armenian Banks, prepared by  IC ArmInfo, the aggregate accumulated profit of the Armenian banking  system in the first half of 2018 was 171.2 billion drams, an increase  of 19.9% in the year-on-year. Ameriabank is 30.7 billion drams in the  top five in terms of accumulated profit, INECOBANK - 22.9 billion  drams, ACBA-Credit Agricole Bank - 21.8 billion drams, HSBC Bank  Armenia - 20.3 billion drams, Araratbank - 15.3 billion AMD. In the  first half of 2018, the banking system completed with a balance  profit of 44.6 billion AMD (an annual growth of 88.7%), after paying  taxes with net profit of 36.3 billion AMD with an annual growth of 2  times. Only for the II quarter of this year net profit of the banking  system sank by 20.2% to 16.1 billion AMD (the calculated exchange  rate of the dram to the dollar as of 30.06.18 was 482.24 AMD/USD1).

Four participants - ProCredit Bank, BTA, Areximbank-Gazprombank Group  and Armenian Development Bank, merged with the INECOBANK,  Armeconombank, Ardshinbank and Araratbank respectively from 2015 to  2006 from the banking market of Armenia. In particular, ProCredit  Bank and BTA - in 2015, and Areximbank-Gazprombank Group and Armenian  Development Bank - in 2016. The consolidation of the banking sector  in Armenia, including through a merger, was dictated by the need to  implement by 2017 a new regulatory requirement for a minimum amount  of total capital - 30 billion drams. As a result, since 2017, there  are 17 banks in Armenia.