Ardshinbank secures its position among  top 5 largest taxpayers in  Armenia

ArmInfo.  Ardshinbank has entered the top 5 of the list of 1,000 largest taxpayers in Armenia based on the results of the first nine months of 2025. The bank paid  32 billion drams (over $83 million) to the state treasury. Moreover,  Ardshinbank quadrupled its budget payments year-on-year, moving up  from 24th to 5th place, as evidenced by published data from the State  Revenue Committee of the Republic of Armenia.

Ardshinbank accounts for 16% of the top five. Of Ardshinbank's budget  transfers, 23.8 billion drams were paid in profit tax and 6.2 billion  drams in income tax. Moreover, Ardshinbank increased its profit tax  transfers to the state treasury sevenfold year-on-year, and its  income tax transfers doubled.

Mobile Center Art topped the list of Armenia's top taxpayers moving  up from second place the year before.  It paid 52.5 billion drams to  the state budget (a 7% year-on-year increase). Out of this amount, 49  billion was VAT.  Canadian company Grand Tobacco moved up from 3rd to  2nd place, paying 45.9 billion drams to the state budget (a 15.3%  year-on-year increase), including 30.3 billion drams in excise tax  and 11.1 billion drams in VAT. Zangezur Copper and Molybdenum Plant  (ZCMC), which was the leader last year, moved up to 3rd place, paying  36.2 billion drams to the state budget (a 57% year-on-year decline),  including 17.2 billion drams in profit tax, 8.3 billion in income  tax, and 1.8 billion in VAT. Gazprom Armenia maintained its  position  in fourth place, paying AMD 34.9 billion to the state treasury (a 4%  year- on-year decline), including AMD 28.7 billion in VAT.

Ameriabank, secured sixth place among the top banks, paying AMD 25  billion to the state treasury (a 23% year-on-year increase),  including AMD 13.8 billion in profit tax and AMD 9.6 billion in  income tax, achieving double-digit annual growth for both indicators.  The top five banks paid a total of AMD 201.4 billion ($526.5 million)  in taxes to the budget, showing a 15% decrease from the previous  year.  Specifically, 91.5 billion drams were paid in VAT (a 10%  year-on-year decline), 46.6 billion drams in profit tax (a 51.3%  year-on-year increase), and 21.3 billion drams in income tax (a 38.3%  year-on-year increase). 

Ardshinbank, among the top five taxpayers, accounted for the largest  increase in profit and income tax payments to the state treasury.  Overall, 1,000 large taxpayers in Armenia increased their payments to  the state treasury by 8.8% annually in January-September 2025,  reaching 1.4 trillion drams ($3.8 billion). The total share of the  top 5 companies in this volume decreased year-on-year from 18% to  14%. However, Ardshinbank's entry into the top five helped prevent a  more significant decline, as it significantly increased its tax  payments to the state treasury.

Note that, based on the results of the first nine months of 2024, the  top 5 companies included Zangezur Copper and Molybdenum Combine  (ZCMC), Mobile Center Art, Grand Tobacco, Gazprom Armenia CJSC, and  Pretty Way LLC (Vesta electrical and household appliances store).  These companies then paid a total of 236.9 billion drams in taxes to  the budget, a 34.3% increase compared to the same period last year.