In H1 of 2020, Armenian banks reduced tax payments to state treasury  by 9.2%

ArmInfo. In the H1 of 2020, the  banking system of Armenia allocated 26.7 billion drams or $ 55.4  million to the state treasury through taxes, which is 9.2% lower than  the indicator a year ago. Of this amount, over 86.5% or 23.1 billion  drams was paid under direct taxes (including income tax and tax on  profits), with a y-o-y  decline of 17.5%. According to the data of  the RA State Revenue Committee, in the total volume of payments of  1000 large taxpayers in Armenia, the share of 17 banks is 5.4%.

The top five taxpayer banks include Ameriabank, ACBA-Credit Agricole  Bank, Armswissbank, Armbusinessbank and Ardshinbank, which sent to  the state treasury in the H1 of 2020 a total of 13.7 billion drams (a  y-o-y decline of 16.5%), of which 11.7 billion drams - in direct  taxes (a y-o-y decline of 25.9%).  According to the source, according  to the results of the H1 of 2020, 13 out of 17 operating banks were  in the first hundred of the largest taxpayers of Armenia, compared to  11 a year ago.

The leader among banks in the list of large taxpayers in terms of  payments is Ameriabank, which took 19th place (against 11th a year  earlier), having sent 3.3bn drams to the state budget, of which 3.1  billion drams are direct taxes (including income tax and tax on  profits). It is followed by: ACBA- Credit Agricole Bank - 20th place  (against 17th place a year earlier) - 3.2 billion drams, of which 2.5  billion drams are direct taxes; Armswissbank - 23rd place (against  56th a year earlier) - 2.7 billion, of which 2.1 billion - on income  tax; Armbusinessbank - 33rd place (against 28th a year earlier) - 2.3  billion, of which 2.1 billion are direct taxes. And Ardshinbank  closes the top five - 35th place (versus 41st a year earlier), which  paid 2.2 billion drams, of which 1.9 billion - in direct taxes.  1.1  

The first hundred large taxpayers also included: Converse Bank - 38th  place (against 43rd place a year earlier), having paid taxes for 2.1  billion drams, of which 1.7 billion - for direct taxes; INECOBANK -  51st place (against the 34th a year earlier) - 1.7 billion (including  direct taxes - 1.6 billion); Unibank - 52nd place (against 75th a  year earlier) - 1.6 billion drams, of which 1.3 billion drams - for  direct taxes; Armeconombank - 56th place (against 57th a year  earlier) - 1.5 billion, of which 1.4 billion - for direct taxes; VTB  Bank (Armenia) - 62nd place (against 120th a year earlier) - 1.3  billion, of which 1.1 billion - for direct taxes; ARARATBANK - 75th  place (against the 77th a year earlier) - 1.1 billion, of which 907.7  million - in direct taxes; Evocabank - 87th place (against 113th a  year earlier) - 1 billion, of which 958.8 million - in income tax;  HSBC Bank Armenia - 100th place (against 78th a year earlier) - 892.4  million, incl. 746.8 million in direct taxes.

IDBank is in the second hundred of large taxpayers in Armenia - 130th  place (against 119th a year earlier) - 668.4 million, of which 621.8  million - for direct taxes; Byblos Bank Armenia - 179th (against  134th a year earlier) - 472.8 million drams, incl. 455.2 million  drams - for direct taxes.  The list of 1000 large taxpayers of  Armenia also included Mellat Bank - 242nd place (versus 145th year  earlier), which paid taxes by 340.8 million, of which 327.3 million -  in direct taxes, and Artsakhbank - 651st place (against 740 of the  previous year) - 122.7 million drams, of which 104.7 million - for  direct taxes.

According to the Express Ranking of Banks of Armenia, prepared by  ArmInfo IC, the total accumulated profit of the banking system of  Armenia in the H1 of 2020 amounted to 247.5 billion drams ($ 513.1  million), having increased by 29.8% on an annualized basis, and by  11.7%, in the H1 of the year, with a stagnant 0.4% growth in the Q2.  The five leaders in terms of accumulated profit are Ameriabank - 50.8  billion drams, ACBA-Credit Agricole Bank - 28.09 billion drams,  INECOBANK - 28.08 billion drams, HSBC Bank Armenia - 24.02 billion  drams, Ardshinbank - 23.4 billion drams. In the firstH1 half of 2020,  the banking system completed with a net profit of 50.1 billion drams  (a slowdown in y-o-y growth from 7.3% to 4.4%), after taxes with  which net profit amounted to 40.6 billion drams with an imperceptible  slowdown in y-o-y  growth from 6% to 5.9%. for the Q2 of this year  alone net profit of the banking system dipped 25.8% (against 39%  growth a year earlier), amounting to 17.3 billion drams. Estimated  exchange rate of AMD to USD as of June 30, 2020 - 482.36 AMD / $ 1.