Ameriabank is the largest taxpayer among Armenian banks
 Friday, July 26 2024, 20:08

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).

Armenia`s banking system starts active lending to economy and  population
 Thursday, May 23 2024, 17:53

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.

EBRD to provide Armenia with EUR 9.3 million to support green  technologies
 Friday, May 3 2024, 18:22

ArmInfo.Businesses in Armenia will have more opportunities to invest in green technologies thanks to a US$ 10  million (EUR 9.3 million) loan, which the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) are providing to Inecobank for on-lending to corporates and small and medium-sized enterprises (SMEs) for green investments. This is stated in the official statement of the EBRD.

ACBA Bank tops list of large taxpayers among Armenian banks in Q1  2024
 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%.  

Armenian banks` profit increased by 18.8% per annum in Q1 2024 thanks  to similar growth in loan portfolio
 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%.

Armenian banking system`s tax payments doubled last year 
 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%).

Armenian banks profits dropped by 9.2% in 2023 after 3-fold increase  in 2022
 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.

"Toxic" loans by Armenian commercial banks up again amid accelerated  growth in retail lending 
 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.  

Tax payments of banking system of Armenia have increased  significantly
 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.

Armenian banks are returning to lending to keep profits up
 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.

EFES IC de facto returns to Armenian market
 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.

Ameriabank, Ardshinbank in TOP-5 of list of 1000 largest taxpayers in  Armenia
 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.

Armenian banks` profit growth rates have slowed down significantly
 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.

In Q1 2023, Armenia`s banking sector increased tax payments to state treasury by 58%
 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).

EBRD to allocate EUR 30mln to SME development in Armenia
 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.  

In 2023, non-cash card transactions reach 40% of  total volume of  plastic transactions
 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).

EBRD, Central Bank sign Memorandum to support  CBA in Digital  Transformation of Financial Market Infrastructure in Armenia
 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.  . 

Armenian banks record 3-fold growth in net profit in 2022
 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. 

Mher Grigoryan noted key importance of programs implemented jointly  with EBRD 
 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. 

Share of non-cash transactions in plastic card transaction near 40% 
 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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