Friday, April 26 2024, 16:33
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%.
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Monday, April 22 2024, 16:36
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%.
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Friday, January 26 2024, 21:03
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%).
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Friday, January 19 2024, 19:53
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.
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Monday, November 20 2023, 12:06
ArmInfo.Armenia's banking system is making half-hearted attempts to reanimate corporate lending, which snowed a decline last year, against a backdrop of accelerated growth in private loans, which ensure acceptable return on and diversification of assets. However, such activity requires special attention needed for preventing delinquent loans from turning into risky ones.
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Thursday, October 26 2023, 18:01
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.
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Wednesday, October 18 2023, 20:18
ArmInfo. Armenian banks are reviving their credit policy after "resting on immigrants' laurels".
This must be done quickly and competently in order to maintain profit growth and avoid its serious decline.
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Monday, October 9 2023, 16:06
ArmInfo.The EFES Insurance CJSC has de facto returned to the Armenian market. Having registered with
the Central Bank at the end of July this year, EFES Insurance CJSC managed to establish partnerships with six banks and the largest leasing company in Armenia as well as with a number of travel agencies, by October. In total, 51 organizations already act as insurance agents of EFES, including ACBA Bank, Converse Bank,
Araratbank, Evokabank, Inecobank, Byblos Bank and ACBA Leasing.
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Wednesday, July 26 2023, 17:04
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.
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Thursday, July 20 2023, 16:13
ArmInfo. The profit growth rates of Armenian banks slowed down significantly amid the ongoing serious slowdown in lending to the economy. Thus, the net profit of Armenian banks increased by 24.8% per annum inH1 2023 (against a 2.8-fold jump in the same period in 2022), reaching 73.6 billion drams ($367.8 million), while slowing down strongly in quarterly growth from 3.4-fold to 5.2% alone.
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Thursday, April 27 2023, 14:44
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).
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Friday, April 14 2023, 15:11
ArmInfo. As part of the EU4Business initiative the EU launched in Armenia in July 2021, the European Bank for Reconstruction and Development (EBRD) and Armenian
financial institutions signed EUR 30mln credit lines, Lilit Gharayan
Team Leader EU4Business- EBRD Credit Line Armenia, said at the forum
entitled "EU4Business-EBRD Credit Line in Armenia - Impact to date
and Way Ahead" on April 14.
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Tuesday, February 28 2023, 22:04
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).
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Monday, February 6 2023, 20:22
ArmInfo. The European Bank for Reconstruction
and Development (EBRD) and the Central Bank of Armenia signed a
memorandum under EBRD-KEXIM Joint Consultation Knowledge Sharing
Programme (KSP) with the aim to support the CBA in Digital
Transformation of Financial Market Infrastructure in Armenia. Many
thanks to @KFTC for their continued support for this initiative. .
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Saturday, January 21 2023, 23:58
ArmInfo.Armenian banks' net profit totaled AMD 263bln ($668mln) last year - a 3-fold growth in 2022 due to an unprecedented 4-fold increase in noninterest incomes.
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Wednesday, November 30 2022, 16:57
ArmInfo.Deputy Prime Minister Mher Grigoryan received Regional Director of the European Bank for Reconstruction and Development (EBRD) for the Caucasus,
Moldova and Belarus Catarina Bjorlin Hansen.
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Monday, November 14 2022, 15:51
ArmInfo. This January-September, the volume of plastic card transactions showed a 33.1% growth, up to AMD 3,020bln, against a 21.6% growth last January-September (including transactions effected abroad by means of Armenian issuing banks'
cards).
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Thursday, October 20 2022, 01:59
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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Tuesday, October 11 2022, 15:47
ArmInfo. The European Bank for Reconstruction and Development will provide a $4 million loan to HSBC Bank Armenia, the EBRD said in an official statement. It is noted that $3 million will be provided directly by the EBRD and $1 million by the Green
Climate Fund (GCF) under the Regional Green Economy Financing
Facility (GEFF).
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Wednesday, August 10 2022, 12:26
ArmInfo. As of July 1, 2022, over 2.8mln plastic cards were effective in Armenia, including co-badging cards ArCa-MIR and Russian MIR cards, with a slower increase - from 8.3% to 7.7% - which is lower than the 9.1% increase in the corresponding period of 2020 and must lower than the 22.2% increase in 2019. In the first half of 2022, 95,600 more cards were issued, with 67,400 cards issued in the 2nd quarter. The cause is the relocation of the capital to Armenia by a larg number of Russian residents.
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