ArmInfo. In Q1 2023, the banking system of Armenia increased tax contributions to the state  treasury by 8.3% per annum - up to 22.2 billion drams ($56.5 million). Of this amount, 85.2% or 18.9 billion drams were paid in direct taxes, with a y-o-y increase of 7.4%.  

ArmInfo.The net profit of Armenian banks increased in by 18.8% per annum Q1 2024  (after a 2.2-fold increase a year earlier), exceeding 83.1 billion drams ($211.4 million). It was possible to maintain the positive dynamics of net profit thanks to the acceleration of the y-o-y growth of the loan portfolio from 3.5% to 18.7%, ensuring a volume of 5.1 trillion drams ($13 billion), according to the data of the Express Ranking of Banks of Armenia on March 31, 2024, prepared by ArmInfo IC.  In Q1 2024 alone, the net profit of banks increased 5.6-fold, while a year earlier in the same period a meager quarterly growth of 1.5% was recorded, and in Q4 2023, the dynamics completely slipped to negative 35%.

ArmInfo. The transaction to acquire 90% of the shares of Ameriabank by the BOGG PLC international financial group, the main asset of which was Bank of Georgia, was completed last Friday.  Now a second major asset in the form of Ameriabank has joined the Group. As previously reported, the total transaction amount was $303.6 million.

ArmInfo. A "smart" economy requires Artificial Intelligence (AI) technologies, and in this regard, the readiness of banks to implement AI is extremely important. Brett King - world-renowned futurist, the founder of a new  banking concept and bestselling author (Bank 2.0, Bank 3.0, Breaking Banks, Bank 4.0, The Rise of Technosocialism) stated on April 3 during a briefing on the sidelines of the Doing Digital forum in Yerevan.

ArmInfo.

ArmInfo. There is no alternative to digital transformation.  Davit Hovhannisyan, Chief  Information Technology Officer at Ameriabank stated on the sidelines of the Doing Digital forum on April 3 during a conversation with journalists.

ArmInfo. Over the past 3 years, Ameriabank has been intensively pursuing the path of digital  transformation, which is already reflected in the form of concrete results.  Arman Barseghyan, Retail Banking Director at Ameriabank, told reporters on the sidelines of the Doing Digital forum on April  3, noting that digital transformation has been on their agenda for about 8 years.  "According to our understanding, Ameriabank is already a Fintech company," he emphasized.

ArmInfo.The Board of the Central Bank of Armenia has given preliminary consent to the acquisition of a significant participation in the authorized capital of Ameriabank CJSC by Bank of Georgia Group PLC (BOGG) and Bank of Georgia JSC.

ArmInfo.Ameriabank has been named the Best Bank in Armenia by Global Finance magazine in its 31st annual awards for the World’s Best Banks. Winners have been chosen in nearly 150 countries, territories and districts in the world with consideration of criteria such as growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products as well as the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

ArmInfo.On March 27, the Armenia Securities Exchange (AMX) will start quoting the bonds of Electric  Networks of Armenia (ENA) CJSC, the issue volume of which is the largest among non-financial organizations, 32 billion drams.

ArmInfo.The South Caucasus Railway will suspend the sale of tickets using MIR cards from March 30. 

ArmInfo. In the banking sector of Armenia, the volume of lending accelerated in growth in 2023 from 13%  to 21%, reaching 5.8 trillion drams ($14.2 billion). But this was not enough to save profits from the decline, which, after a 3-fold jump in 2022, decreased by 9.2% in 2023, amounting to 229.9 billion drams ($567.9 million). This is evidenced by the data of the Financial Rating of Banks of Armenia as of December 31, 2023, prepared by  ArmInfo. 

ArmInfo.Ameriabank has been named the Best Bank in Armenia in sustainable finance for 2024. This achievement marks the fourth consecutive win for Ameriabank for funding initiatives designed to mitigate the negative impacts of climate change and help build a more sustainable future.

ArmInfo. The construction of an industrial-scale solar power plant, Mets Masrik, in Armenia is  nearing completion. This was stated on February 28 from the rostrum of parliament by Chairman of the Public Services Regulatory Commission, Garegin Baghramyan, whose candidacy was again nominated  by the RA government for the post of head of the PSRC.

ArmInfo.ADB has signed a sale and purchase agreement with the Bank of Georgia in respect of its shares in  Ameriabank. The Spokesman for the ADB Resident Mission in the Republic of Armenia told ArmInfo.

ArmInfo. The HSBC group has been moving its capital and focusing on its preferred markets, as has been the policy in recent years. Only since 2021, as noted by the Chairman of the Union of Banks of Armenia (UBA) Daniel Azatyan during a press conference, the Group has withdrawn from 7 countries, including retail lending in France, the USA, Greece, etc.

ArmInfo. The entry of a bank with an international brand into the financial market of Armenia is always desirable and important, Chairman of the Union of Banks of Armenia Daniel Azatyan stated during the final press conference on February 20, speaking about the deal to acquire Bank of Georgia Group PLC (BOGG) of one of the leading Armenian banks Ameriabank CJSC.

ArmInfo. Ameriabank (the Bank) has reached an agreement with the BOGG (the Group), a UK registered financial group, to join the latter as a standalone entity and the Group to become the main shareholder of the Bank, with the European Bank for Reconstruction and Development (“EBRD”) retaining their 10% shareholding in Ameriabank.

ArmInfo.  Bank of Georgia Group PLC ("BOGG" or the "Group") announces the proposed acquisition  of 100 per cent. of a leading bank in Armenia, Ameriabank CJSC ("Ameriabank"), for approximately $303.6 million. This acquisition will significantly enhance the Group's presence and growth opportunities within a fast-growing and attractive market, according to BOGG's official statement.

ArmInfo.Ameriabank maintains leadership in the banking system of Armenia in terms of the volume of  mortgage loans with a market share of 21.3% at the end of 2023. This is noted in the bank's message.