ArmInfo. Armenia's banking system increased its tax contributions to the state budget by 10.3% year-on-year in the first half of 2026, reaching 116.1 billion drams (approximately $274 million). Direct taxes accounted for 92.1% of this total, or 106.9 billion drams, representing a 9.2% annual growth. According to data from the State Revenue Committee of the Republic of Armenia, all 17 operating banks in the country made the list of the top 1,000 corporate taxpayers, with 13 banks securing spots in the top hundred (compared to 14 banks the previous year).
The top five banking leaders remained unchanged from the previous year: Ardshinbank, Ameriabank, ACBA Bank, Inecobank, and Converse Bank. In the first half of 2026, these top five banks directed 79.9 billion drams in taxes to the state treasury—a 13.2% increase compared to the previous year. Direct taxes from this group totaled 74.4 billion drams, reflecting an 11.7% annual rise.
The top five banks account for 68.8% of the total tax contributions made by the entire banking sector. Meanwhile, the banking system's share of the total tax revenues contributed by Armenia's 1,000 largest taxpayers saw a minor decrease, dropping from 11% to 10.4% over the year.
Ardshinbank leads the banking sector in tax payments, advancing from 4th to 3rd place overall after contributing 33.6 billion drams to the state budget, which included 27.5 billion drams in corporate income tax and 4.9 billion drams in personal income tax. Ameriabank secured the 6th position overall, paying 22.1 billion drams in taxes, consisting of 13.1 billion drams in corporate income tax and 6.8 billion drams in personal income tax. ACBA Bank maintained its 18th position from the previous year, contributing 10.6 billion drams in taxes, which included 5.8 billion drams in corporate income tax and 3.6 billion drams in personal income tax. Inecobank moved down slightly to the 21st position (from 20th a year earlier), paying 8 billion drams to the state budget, including 4.8 billion drams in corporate income tax and 2.5 billion drams in personal income tax. Converse Bank rounded out the top five banking leaders, climbing to the 30th position (up from 35th the previous year) with a contribution of 5.5 billion drams, comprising 3.3 billion drams in corporate income tax and 1.7 billion drams in personal income tax.
The following banks are among the top 100 largest taxpayers: Evocabank - 31st position (5.4 billion drams, of which over 5.1 billion - in direct taxes), IDBank - 34th position (4.9 billion drams, of which 4.2 billion - in direct taxes); VTB Bank (Armenia) - 37th position (4.6 billion drams, of which 4.3 billion - in direct taxes); Armeconombank - 43rd position (4.2 billion drams, of which 3.8 billion - in direct taxes); Araratbank - 51st position (3.7 billion drams, of which 3.4 billion - in direct taxes). ArmSwissBank is ranked 61st (3.1 billion drams, of which 2.8 billion is from direct taxes); AMIO Bank is ranked 72nd (2.5 billion drams, of which 2.1 billion is from direct taxes); FAST Bank is ranked 82nd (2.2 billion drams, of which 2 billion is from income tax).
Further down the list of the largest taxpayers among banks are Mellat Bank in 111th place (1.6 billion drams, of which 1.5 billion came from corporate income tax); Unibank in 117th place (1.6 billion drams, all of which came from corporate income tax); Artsakhbank in 139th place (1.3 billion drams, of which 1.2 billion came from direct taxes); and Byblos Bank Armenia in 290th place (697.6 million drams, of which 608.2 million came from direct taxes). Recall, the merger between HSBC Bank Armenia and Ardshinbank concluded on November 29, 2024, and by the end of that same year, Ardshinbank had already published a consolidated balance sheet.
Regarding Fast Bank, it has been operating within the Armenian banking system since September 2022, having functioned as a credit company for 11 years prior (since October 2011).
According to the ArmInfo Express Ranking of Armenian Banks as of June 30, 2026, the total accumulated profit of the Armenian banking system on that date exceeded 1 trillion drams ($2.7 billion), representing a 19.1% year-on-year increase. The top five banks by accumulated profit are Ameriabank, Ardshinbank, ACBA Bank, Evocabank, and Converse Bank. The banking system concluded the first half of 2026 with a book profit of 260.7 billion drams ($708.7 million), reflecting a 6.7% annual growth. After taxes, the net profit reached 214.3 billion drams ($582.5 million), increasing by 6.8% over the year. The top five banks by net profit include Ardshinbank, Ameriabank, ACBA Bank, Inecobank, and IDBank. These five institutions account for approximately 70% of the total profit of the banking system, with the top two alone making up almost 51%. (Note: The exchange rate used for calculation was 367.89 AMD/USD as of June 30, 2026.)
