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. Armenia's Ministry of and Social Affairs has released a list of banks participating in a 10%  cashback programme for pensioners. 

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. In 2023, the banking system of Armenia doubled tax payments to the state treasury - up to AMD 123.5bln ($305 million), of which AMD 71.5bln were for direct taxes (with an annual increase of 39.7%).

ArmInfo. The net profit of Armenian banks dropped by 9.2% in 2023 (after 3-fold increase  in 2022), amounting to 229.8 billion drams ($567.8 million) due to the deterioration of the y-o-y dynamics of non-interest income from a  4-fold increase to an almost 2-fold decline. Moreover, on a quarterly terms, profit began to decrease in Q3, then fell sharply down (-35%) in Q4, according to the data of the Express Ranking of Banks of Armenia as of December 31, 2023, prepared by ArmInfo IC.

ArmInfo. Since the introduction  of the 10% cashback program for pensioners and people receiving  benefits when paying with bank cards, from July 2022 to November  2023, Armenian pensioners have made non-cash purchases totaling 62  billion drams. Cashback amounted to 5.2 billion drams. Prime Minister  Nikol Pashinyan announced today at a meeting of the Cabinet of  Ministers.

ArmInfo.In 2024, the program for the return of pensions and benefits for transactions on  non-cash payments for beneficiaries will not undergo any changes, Minister of Finance of the Republic of Armenia Vahe Hovhannisyan stated on December 6, during the presentation of the final version of  the draft state budget of Armenia for next year. 

ArmInfo.Deputy Minister of Labor and Social Affairs Davit Khachatryan and Press Secretary of the  Minister of Labor and Social Affairs Zaruhi Manucharyan presented the progress of the support provided by the Government to our compatriots forcibly displaced from Nagorno-Karabakh during the briefing held at  the "Humanitarian Center".

ArmInfo.The banking system of Armenia in Jan-Sept 2023 sent 111.8 billion drams or $284.1 million to the state treasury through taxes, which is 2.4-fold higher than the year-ago. Of this amount, 91.1% or 101.9 billion drams were paid for direct taxes (including profit tax and income tax), with an increase of 2.6-fold over the year, according to the data from the State Revenue Committee.

ArmInfo.

ArmInfo.Commercial banks in Armenia are currently conducting an inventory of tangible and  intangible assets in order to get a complete picture of the problems  that have arisen as a result of the situation in Nagorno-Karabakh. 

ArmInfo.

ArmInfo.At the end of H1 2023 two Armenian banks, Ameriabank and Ardshinbank entered the TOP-5 of the list of 1000 largest taxpayers in Armenia, ranking 4th and 5th,  respectively, in annual terms (from 18th and 24th in H1 2022). This  is evidenced by the data of the State Revenue Committee of Armenia.

ArmInfo. The banking sector of  Armenia in Q1 2023 increased tax payments to the state treasury by  58% per annum - up to 20.5 billion drams ($52.7 million). Of this  amount, 85.7% or 17.6 billion drams was paid in direct taxes, with a  y-o-y increase of 62%. This is evidenced by the data of the State  Revenue Committee of the Republic of Armenia on the list of 1000  large taxpayers of the country, according to which, 9 banks were  included in the first hundred of the list (as in the previous year).

ArmInfo. In Armenia, the total volume of plastic transactions accelerated y-o-y growth from 26.3% in  2021 to 34.7% in 2022, exceeding 4.4 trillion drams or $11.3 billion (including transactions abroad with cards of Armenian issuing banks).  This is evidenced by the data of the Central Bank of the Republic of Armenia, according to which the volume of transactions carried out  abroad with the cards of the issuing banks of Armenia increased 2.1-fold on a y-o-y terms up to 456.5 billion drams or 1.2 billion  dollars (10.3% of the total plastic transactions).

ArmInfo.

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. 

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ArmInfo.