ArmInfo.

ArmInfo.At the meeting on 27^th of August this year, the Board of the Central Bank of the Republic of Armenia granted its preliminary approval for Ardshinbank CJSC to acquire 75% or more of direct significant stake in HSBC Bank Armenia. Prior to this, on 6^th of June the Commission for the Protection of Competition also approved the concentration of Ardshinbank and HSBC Bank Armenia.

ArmInfo.Loan of €55 million for Acba bank to support local private sector.

ArmInfo.

ArmInfo. Ameriabank continues  to lead among other Armenian banks in a row. According to the data of  the State Revenue Committee, in the first half of 2024, Ameriabank  ranked 6th (versus 4th a year earlier), having paid 17.5 billion AMD  to the state budget, of which 16.5 billion AMD were direct taxes  (including profit tax, income tax).

ArmInfo.

ArmInfo.

ArmInfo.The Armenian market is in a period of hyper-growth and will continue to remain so in the  coming years. Businessmen, understanding the market prospects, will be able to approach franchising more intelligently and create models that will have long-term, stable development. An international expert  in this field, member of the board of the RA Franchising Association, Viktor Lyashevsky, stated this at an event organized by the Acba business club dedicated to the implementation of franchising.

ArmInfo.

ArmInfo.

ArmInfo. Imagine for a moment that you are a beneficiary of the of the USA represented by Apple, Microsoft, META, NVIDIA, TESLA, Alphabet Inc.  and Amazon. And this became possible by joining the Mandatory Funded  Pension System (MFPS)  of Armenia.  

ArmInfo.

ArmInfo. Converse Bank began issuing and servicing China UnionPay system cards - UnionPay Gold and  UnionPay Platinum. This was noted in a message issued by Converse Bank on May 27.

ArmInfo. The banking system of Armenia has begun actively lending to the economy and population, but the industrial sector remains the 'Achilles heel' of the loan  portfolio, according to the data of the Financial Rating of Banks of  Armenia as of March 31, 2024, prepared by ArmInfo.

ArmInfo.In 2024, the volume of investments of the European Bank for Reconstruction and Development  (EBRD) will be in an unprecedented amount - up to 500 million euros. Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development (EBRD) stated on May 15 at the Annual Meeting of the Bank in Yerevan.

ArmInfo. The European Bank for Reconstruction and Development (EBRD) and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian micro, small and medium-sized enterprises (MSMEs).

ArmInfo.

ArmInfo. On May 2, Acba Bank began the public placement of the next coupon non- documentary dollar and dram bonds in the amount of $5 million and 3 billion drams.

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%.