Ardshinbank tops list of taxpayers among Armenia`s banks 

ArmInfo. In the first half of 2025, the banking system of Armenia increased tax deductions to the state treasury by 28% per annum - to 105.3 billion drams ($274 million). Of this amount, 93% or 97.9 billion drams were paid in  direct taxes, with an annual growth of 30%. This is evidenced by the  data of the State Revenue Committee of the Republic of Armenia,  according to which a year ago, tax deductions of the banking system  to the state treasury were in decline by 11.4%, with a decline of 13%  in direct taxes.

All 17 banks operating in Armenia were included in the list of 1000  large taxpayers of the country, with 14 banks in the first hundred  (as in the previous year).

In particular, the top five are Ardshinbank, Ameriabank, ACBA Bank,  Inecobank and Converse Bank.  According to the results of the first  half of 2025, the top five banks sent 70.6 billion drams to the state  treasury in taxes, with an annual growth of 55%. Of this amount, 66.6  billion drams were paid in direct taxes, with an annual growth of  60%.

The top five banks account for 67% of the total tax deductions to the  state treasury by the banking system.  In the total tax deductions of  1000 large taxpayers of Armenia, the share of the banking system  increased from 9% to 11% over the year.

The leader among banks in terms of the amount of taxes paid -  Ardshinbank moved up from 21st to 4th position, having sent 27.96  billion drams to the state budget, of which 22.3 billion - on profit  tax, and 4.4 billion - on income tax. In the annual context,  Ardshinbank almost 5 times increased tax deductions to the state  treasury, due to a significant increase in payments of profit tax and  income tax. Ameriabank moved up to 5th position (from 6th a year  earlier), having paid 21.1 billion drams in taxes to the state  budget, of which 12.4 billion - on profit tax and 8 billion - on  income tax.

It is worth paying special attention to the fact that according to  the results of the first half of 2025, these two banks - Ardshinbank  and Ameriabank entered the TOP-5 large taxpayers of Armenia,  providing 35% of tax deductions of the leading five, in which the  first three positions were occupied by Mobile Center Art, the  Canadian company Grand Tobacco and Gazprom Armenia. 

Next comes ACBA Bank, which took 18th place (versus 13th a year ago),  having paid 8.5 billion drams, of which 7.6 billion - in direct  taxes. Inecobank moved down to 20th place from 15th, having paid 7.97  billion drams to the state budget, of which 7.5 billion drams in  direct taxes. Converse Bank rounds out the top five, taking 35th  place (versus 27th a year ago), having paid 4.8 billion drams, of  which 4.4 billion were direct taxes.

The following banks are among the top hundred largest taxpayers:  IDBank - 39th position (4.4 billion drams, of which 4 billion - in  direct taxes; Unibank - 40th position (4.3 billion drams, of which  3.8 billion - in direct taxes); Evocabank - 42nd position (4.1  billion drams, of which over 3.8 billion - in direct taxes);  Araratbank - 46th position (3.7 billion drams, of which 3.4 billion -  in direct taxes); Armeconombank - 49th position (3.4 billion drams,  of which 3.1 billion - in direct taxes); VTB Bank (Armenia) - 52nd  position (3.3 billion drams, of which 3 billion - in direct taxes);  ArmSwissbank - 59th position (3.1 billion drams, of which 2.8 billion  - in direct taxes); FAST Bank - 70th position (2.599 billion drams,  of which 2.3 billion - in direct taxes); AMIO Bank - 71st position  (2.591 billion drams, of which 1.95 billion - in direct taxes).

Further on the list of the largest taxpayers among banks are Mellat  Bank - 125th place (1.5 billion drams, of which 1.4 billion - in  direct taxes), Artsakhbank - 155th place (1.2 billion drams, of which  1.1 billion - in direct taxes), Byblos Bank Armenia - 282nd place  (641.5 million drams, of which 568.5 million - in direct taxes).

According to the Express Ranking of Armenian Banks as of 30.06.2025,  prepared by ArmInfo Investment Company, the total accumulated profit  of the Armenian banking system as of that date reached 842 billion  drams ($2.2 billion), having increased by 21.3% year-on-year. The top  five in terms of accumulated profit are Ameriabank, Ardshinbank,  Evocabank, Converse Bank and ACBA Bank. The banking system completed  the first half of 2025 with a balance sheet profit of 244.4 billion  drams or $635.8 million (with an annual growth of 16.4%), after  paying taxes from which the net profit reached 200.7 billion drams  ($522 million), an increase of 16.6% over the year. In terms of net  profit, the TOP-5 include Ardshinbank, Ameriabank, ACBA Bank,  Inecobank and Evocabank, which account for 73% of the total profit of  the banking system, with over 50% for the first two. (The estimated  exchange rate of the dram against the dollar on June 30, 2025 was  384.47 drams / $ 1). 

The process of merging HSBC Armenia Bank with Ardshinbank was  completed on November 29, 2024, and since then, Ardshinbank's  subsidiary, Ardshininvestbank CJSC, has been operating. In this  regard, based on the results of 2024, Ardshinbank published a  consolidated balance sheet, taking into account which  Ardshininvestbank CJSC indicated in the list was not calculated by  ArmInfo IC in the total volume of tax payments of the banking system  to the state treasury, but for comparability of annual dynamics, the  balance sheet indicators of the then still functioning HSBC Armenia  Bank are taken into account.