Ameriabank is the largest taxpayer among Armenian banks

ArmInfo. Ameriabank continues  to lead among other Armenian banks in a row. According to the data of  the State Revenue Committee, in the first half of 2024, Ameriabank  ranked 6th (versus 4th a year earlier), having paid 17.5 billion AMD  to the state budget, of which 16.5 billion AMD were direct taxes  (including profit tax, income tax).

The top five banks on the list of Top 1000  taxpayers are: ACBA Bank,  - 13th place (versus 11th a year earlier), INECOBANK - 15th place  (versus 16th a year earlier), Ardshinbank - 21st place (versus 5th a  year earlier). 

During 1HY 2024, the top five banks paid 45.7 billion AMD to the  state treasury in taxes, which is 25.7% lower than it was recorded a  year ago. Of this amount, 41.7 billion was paid in direct taxes, with  an annual decline of 28.5%. The top five banks account for 55.4% of  the total tax deductions to the state treasury by the banking system.

The top hundred taxpaying banks also included 9 more banks (as in the  previous year): Unibank - 24th place, Converse Bank - 27th place,  IDBank - 31st place, HSBC Bank Armenia - 35th place,  Araratbank -  40th place, Evocabank - 42nd place,  VTB Bank (Armenia) - 46th place,  Armeconombank - 47th place, FAST Bank - 56th place,  AMIO - 73rd  place and ArmSwissBank - 103rd place.

The rest took the following positions: Mellat Bank - 126th place,  Artsakhbank - 166th place and Byblos Bank Armenia - 271st place.

Overall, the Armenian banking system on an annual basis  reduced tax  payments to the state treasury by 11.4% to 82.5 billion drams ($212.6  million) in the first half of 2024. Of this amount, 93.2% or 75.5  billion AMD were paid in direct taxes, with an annual decline of 13%.   In  total tax deductions of 1000 large taxpayers of Armenia, the  share of the banking system in the first half of 2024 decreased from  10.6% to 9.2%. 

According to the Express Ranking of Armenian Banks as of June 30,  2024, prepared by ArmInfo Investment and Promotion Company, the total  accumulated profit of the banking system of Armenia as of this date  reached 694 billion AMD ($1.8 billion), increasing by 20% on an  annual basis (against 61% growth a year earlier). The top five in  terms of accumulated profit are Ameriabank, Ardshinbank, ACBA Bank,  Converse Bank and Evocabank. The banking system ended the first half  of 2024 with a balance sheet profit of 210.1 billion AMD or $541.1  million (with an acceleration in annual growth from 21.5% to 23.4%),  after paying taxes from which the net profit reached 172.1 billion  AMD ($443.5 million), slowing down in growth from 24.8% to 21.2%. In  terms of net profit, the TOP-5 include Ardshinbank, Ameriabank,  INECOBANK, ACBA Bank and IDBank. (The calculated exchange rate of the  dram against the US dollar as of June 30, 2024 was 388.16 drams / $  1).