For 9 months of 2019, Armenian banks paid AMD 42.3 billion of taxes  with an increase of 10% per annum

ArmInfo. In January-September 2019, the banking system of Armenia sent 42.3  billion drams in taxes to the state treasury, which is 10% higher  than a year ago. Of this amount, 94.5% or 40 billion drams were paid  on direct taxes (including profit tax, income tax), with y-o-y growth  of 15.9%.

According to the RA State Revenue Committee, 12 out of 17  operating banks are among the hundred largest taxpayers of Armenia,  according to the results of 9 months of 2019 (against 13 in 2018 for  the same period). Among them, the top five taxpayer banks are  Ameriabank, ACBA-Credit Agricole Bank, Armbusinessbank, INECOBANK and  Ardshinbank, which sent 23.2 billion drams to the state treasury  through taxes (y-o-y growth of 12.1%), of which 22.2 billion drams -  direct taxes (y-o-y growth of 18.1%).

Ameriabank is in the lead among banks in the list of large taxpayers  in terms of the amount of taxes paid - 15th place (against the 20th  year earlier), sending 6.6 billion drams to the state budget, of  which 6.4 billion drams are direct taxes. ACBA-Credit Agricole Bank,  which took the 20th place (against the 19th year earlier), sent 5.4  billion drams to the state treasury, of which 2.9 billion  on income  tax. Armbusinessbank follows next-the 33rd place (versus 35th a year  earlier) - 3.9 billion drams, of which 3.6 billion drams of direct  taxes. INECOBANK takes 36th place (against the 31st year earlier),  having paid 3.8 billion to the state budget, of which 3.7 billion of  direct taxes. Ardshinbank closes the first five of large taxpayer  banks, taking the 39th place (versus 34th a year earlier), having  paid 3.5 billion drams, of which 3 billion are direct taxes.

The first hundred large taxpayers also included Converse Bank (46th  place, against 44th) - 2.9 billion drams, of which 1.4 billion -  income tax, Armeconombank (52nd place, against 60th) - 2.5 billion,  of which 2.3 billion - income tax, Armswissbank (60th place, against  73rd) - 2.3 billion, of which 373.3 million - on direct taxes,  Unibank (67th place, against 69th) - 2.1 billion drams, of which 1.7  billion drams - for direct taxes, Araratbank (81st place, against  76th a year earlier) - 1.8 billion, of which 1.7 billion - for direct  taxes, HSBC Bank Armenia (88th place , against the 92nd year earlier)  - 1.7 billion, of which 1.2 billion - for direct taxes, VTB Bank  (Armenia) - 95th place (compared to 35th year earlier) - 1.5 billion  drams, of which 146 million drams - for income tax.  The second  hundred large taxpayers of Armenia include Evocabank, which is on the  110th place (against 139th place a year earlier) - 1.3 billion drams  (of which 1.2 billion - on direct taxes), IDBank - 124th place  (against 84th year earlier) - 1.1 billion., of which 999.4 million -  for direct taxes, Mellat Bank (164 place, as a year earlier) - 787.3  million (of which 729.5 million - for direct taxes) and Byblos Bank  Armenia - (172 place, against 314- the year before) -769.4 million  drams (including 477.6 million drams - for direct taxes).   Artsakhbank is also on the list of 1000 large taxpayers of Armenia -  739th place (versus 602 the year before), which paid 167.5 million to  the state treasury (including 161.2 million for direct taxes).   According to the Financial Rating of the Banks of Armenia, prepared  by IC ArmInfo, the total accumulated profit of the banking system of  Armenia for the first 9 months of 2019 amounted to 207 billion drams  ($ 435 million), an increase of 19% in y-o-y terms. The five leaders  in terms of accumulated profit are Ameriabank - 41.8 billion drams,  ACBA-Credit Agricole Bank - 26.4 billion drams, INECOBANK - 23.5  billion drams, HSBC Bank Armenia - 22.2 billion drams, and Converse  Bank -19.3 billion drams. The banking system completed 9 months of  2019 with a net profit of 76.3 billion drams or $ 160.4 million (y-o-  y growth of 19.7%), which, after paying taxes, provided a net profit  of 60.9 billion drams ($ 128 million), with a y-o-y growth of 17, 7%.  It should be noted that 17 banks function in Armenia.