ArmInfo. In 2024, Armenian banks experienced a record growth in profits, which is undoubtedly  pleasing, as a portion of these profits will be used to finance the economy, as stated by the Chairman of the Central Bank of the Republic of Armenia, Martin Galstyan, during a press conference on February 4.

ArmInfo.

ArmInfo. Unlike 2022, when the Armenian banking system received most of its profits from services provided to non-residents (accounts, payment cards, currency transactions, ed. note), in 2024 there is a serious demand for credit products, which will allow banks to more thoroughly generate profits. Governor of the Central Bank of Armenia Martin Galstyan stated during a press conference on October 31.

ArmInfo. Non-interest incomes from currency transactions remain the main factor of the unprecedented increase in the Armenian banks' profits, according to the data of the ARMINFO- compiled Express Ranking of Armenia Banks for September 30, 2022.  According to the data, the total net profits of the banks showed a  2.8-fold year-on-year increase, up to AMD 187.8 or $463mln at the  current exchange rate. 

ArmInfo. Ameriabank is the leading taxpayer among Armenian banks in the first half of 2021. As noted in the message of the bank, this is evidenced by the data of the State  Revenue Committee of the Republic of Armenia.

ArmInfo.. The banking system in Armenia is sound and  well-regulated, but the financial sector is not highly developed,  according to investors. Banking sector assets account for over 80  percent of total financial sector assets. This is stated in the  published report of the US State Department on the investment climate  in Armenia for 2021.

ArmInfo. The assets of the banking system of Armenia slowed down annual growth from 16.1% to 15.3%, amounting to 5.9 trillion drams ($ 11.7 billion) as of April 1, 2020.  According to the Express-Ranking of Banks of Armenia, prepared by ArmInfo IC, in their structure credit investments and other loans  reached 3.8 trillion drams ($ 7.5 billion), with annual growth  accelerating from 16.2% to 20.4%.

ArmInfo. The banking system of Armenia increased its net profit in the first quarter of 2020 by 40% per annum to 23.3 billion drams ($ 46.3 million), while a year earlier a subsidence of 17.4% was recorded.

ArmInfo. On February 6, IDBank opened in Yerevan an innovative Center for Banking Financial Services, which is exceptional and unique in the enitre region. The  center is located in the heart of the Armenian capital, on Northern  Avenue (in Building No. 6).

ArmInfo. Ameriabank provided significant quantitative and qualitative growth in the retail loan portfolio. As ArmInfo was explained in the press service of the bank,  in 2019 this portfolio grew by 48%, amounting to 178 billion drams.  At the same time, the share of non- performing loans in the loan  portfolio decreased significantly - to 1.9% in 2019 from 3.8% in  2018.  

ArmInfo. For the first time, Ardshinbank has implemented a trade finance deal with the International Bank for Economic Cooperation (IBEC) under the General Financing Agreement signed in September 2019. IBEC provided pre-export financing to Ardshinbank in the amount of 3.5 million euros for a period of up to six months for lending to the export of agricultural products to Russia.

ArmInfo.The banking system assets of Armenia accelerated growth in 2018, to 14% from 6.4% in 2017, reaching 4.964 trillion drams ($ 10.3 billion). According to  the Express Ranking of Armenian banks prepared by ArmInfo, in their  structure, credit investments and other loans crossed the mark of 3  trillion drams ($ 6.3 billion), with the acceleration of y-o-y growth  from 4% in 2017 to 19.2% in 2018.

ArmInfo.The banking system of Armenia increased its net profit in 2018 by 78.7% to 62.2 billion drams ($ 128.6 million), against a relatively modest growth in 2017  by 15.6%.

ArmInfo. Converse Bank by  liabilities to customers entered the TOP-5, closely bringing its top  financial indicators to the top five.

ArmInfo. The international  authoritative publication Global Finance recognizes ARARATBANK as the  best bank in Armenia for trade financing for the third consecutive  year. The press service of the Bank told ArmInfo that the award was  given to ARARATBANK in view of such criteria as innovative  technologies introduced in the bank, the volumes, accuracy and speed  of the operations performed, geographical coverage of transactions  and high level of customer service.

ArmInfo. INECOBANK increased  net profit for the year of 2017 by 36.2% to 7.02 billion AMD ($ 14.5  million), having moved up from the 3rd to the 2nd position.

ArmInfo. Armbusinessbank oon  the balance sheet currency  for the year 2017moved  from the 3rd to  the 2nd position, and for liabilities to the clients became the  leader.  According to the Express-Ranking of Armenian Banks, prepared  by  ArmInfo specialists on the basis of published financial  statements of the bank, the assets of Armbusinessbank grew by 42.2%  to 574.9 billion drams ($ 1.2 billion), and liabilities to customers  - by 53.5% up to  401.2 billion drams ($ 828.8 million).

ArmInfo. Ardshinbank was  established in TOP-3 in 2017.  According to the Express-Ranking of  Armenian Banks, prepared by IC ArmInfo, the bank's assets reached  568.3 billion drams ($ 1.2 billion), total liabilities - 501.7  billion drams ($ 1.04 billion). On an annual basis, the Bank ensured  asset growth by 3.6% due to growth in both its loan portfolio and  investments in securities. In parallel, the Bank increased its total  liabilities by 5.2% due to the growth of term deposits and demand  deposits.

ArmInfo. ACBA-Credit Agricole Bank, which is a traditional leader in the agro-loan market, by January 1, 2018, was entrenched in TOP-3 by total capital and the top five in terms of assets and liabilities.

ArmInfo. Ameriabank continues to lead the main financial indicators, despite some restraint of the growth rate, which nevertheless does not prevent from increasing its profits more weightily.