ArmInfo. In Jan-Sept 2016 the banking system of Armenia paid 27.9 bln AMD or $58.9 mln in taxes, 12.5% less than in Jan-Sept 2015. The share of direct taxes (including profit tax and income tax) was over 89% or 25.1 bln AMD, 13.1% less than in Jan-Sept 2015.  The share of commercial banks in the total amount of taxes paid by top 1000 taxpayers was 5.3%. The top 1000 taxpayers paid a total of 525 bln AMD ($1.1 bln) in taxes in Jan-Sept 2016.

ArmInfo. Ameriabank under  cooperation agreement with Export Insurance Agency of Armenia will  provide factoring finance to exporters. On October 28 Ameriabank and  Export Insurance Agency of Armenia signed a cooperation agreement,  the press- service of the Bank informs. The aim of the agreement is  to insure Armenian exporters against non-payment on the part of  partners due to trade and political risks. Under the new scheme,  while using factoring services exporters not just get payment for  their goods in advance and are thus able to increase their cash  turnover, but are hedged against possible non-payment on the part of  buyers. Providing factoring finance in the currency of export  contract helps to neutralize possible adverse impacts of exchange  rate fluctuations.  

ArmInfo. By the end of 2016, the number of the Armenian banking market participants will be 17, i.e. the number will decline by 2 commercial banks. In October 2016, Areximbank-Gazprombank Group announced its withdrawal from the market. Its parental structure – the Russian Gazprombank - preferred to sell its subsidiary to Ardshinbank instead of undertaking capitalization, which was also done out of necessity to cover big losses. The Armenian Development Bank will also shortly be purchased by another quite active market player.  

ArmInfo. Armenian Ministry of  Agriculture is working with commercial banks on introducing factoring  for prompt repayment of debts to farmers, Minister of Agriculture  Ignatiy Arakelyan informed after today's session of government. 

ArmInfo. Subsidizing of Armenian  agriculture should total 10-15% from total amount of production. Only  in such case real growth and development of the field may be  registered. Consequently, it is extremely important to find fund  sources for additional financing of the field, Minister of  Agriculture Ignatiy Arakelyan stated at the meeting with the deputies  and other officials of the ministry. 

ArmInfo. Banks of Armenia continue intensive capitalization, while experts anticipate new mergers till the end of 2016. According to the data of Financial Ranking of Armenian banks prepared by ArmInfo only 7 banks out of 19 have so far met the the minimal capital requirement, which according to the CBA's decision must not be less than 30 bln drams starting from 2017.

ArmInfo. Armenian banks paid 19.4bln drams taxes to the state budget in the 1st half of 2016, which is 13.7% lower than for the same period of 2015. Direct taxes (including profits and incomes taxes) amounted more than 90% or 17.4bln drams of total with a 15% decline year-over-year. According to the State Revenue Committee, 13 of the 19 operating banks were among top 100 biggest taxpayers in Armenia in the 1st half of 2016.  Top 5 taxpayer-banks were Ameriabank, VTB Bank (Armenia), Ardshinbank, ACBA-Credit Agricole Bank and Armbusnessbank, with four of them were among top 5 taxpayer-banks a year ago too. In the 1st half of 2016, the top 5 taxpayer- banks paid 10.1bln drams to the state budget (down 16.3% y-o-y), of which 9.3bln drams were direct taxes (down 16.8% y-o-y).   

ArmInfo.  In Q1 2016, the bankingsystem of Armenia paid 9.3 bln AMD or $19.4 mln in taxes (4% lessthan a year before). Over 88% of this amount, or 8.2 bln AMD, was paid in direct taxes (including profit tax and income tax), 6% less than a year before. According to the Armenian State Revenue Committee, in Q1 2016 the top hundred taxpayers of Armenia included 13 out of the 21 banks (13 banks in Q1 2015). The top five taxpayers among the banks are ACBA-Credit Agricole Bank, Ardshinbank, VTB Bank (Armenia), Ameriabank and HSBC Bank Armenia (the same banks were also the top five in Q1 2015). In Q1 2016, these banks paid a total of 4.5 bln AMD in taxes (down 8% versus Q1 2015), including 4 bln AMD in
direct taxes (down 7% versus Q1 2015).

ArmInfo. In Q1 2016 net profit of Armenia's banking system grew by 33% y-o-y to 3.1 bln AMD ($ 6.4 mln), but the role of profits from credits was not significant in ensuring it.  According to the Express Ranking of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo) this indicator grew due to mainly four banks, which demonstrated profits after registering tangible losses and ensured 2-4-fold y-o-y growth. 16 banks in total operated with profit in Q1 2016, 7 of which have worsened their financial result by 18-71%.

ArmInfo. Vardan Sirmakes, Swiss businessman, CEO, founder and 100% owner of world-known "Frank Muller Watchland" company will not participate in ArmSwisBank capital directly anymore, ensuring participation through his foreign companies. 

ArmInfo.  Budgetary expenditures on subsidizing interest rates of agricultural loans are reduced in 2016 to 1.163 bln AMD versus 15.2 bln AMD in 2015. Subsidizing of interest rates of agricultural loans under the state program 2016 started on March 1, relevant decision was made at the government's session today. 

ArmInfo. Most of Armenian banks have significantly corrected their financial results of 2014 in the report for 2015. Eventually, instead of the anticipated 32.8% decline of net profits in 2015, this indicator increased 12.4% to 18.3 bln drams ($37.7 mln). 

ArmInfo. Six big Armenian banks secured the Central Bank's minimum total capital requirement for 2017 - 30 bln drams - as early as in the beginning of 2016. These are Ameriabank, ACBA-Credit Agricole Bank, HSBC Bank Armenia, Ardshinbank, VTB Bank (Armenia) and INECOBANK. 

ArmInfo. Armenia's banking system paid 41.4 billion drams taxes, with a 10% year on year growth.  Profit and incomes taxes accounted for 37.2bln drams of total. The State Revenue Committee of Armenia reports that 13 out of 22 operating banks (including the non- commercial PanArmenian Bank) are among Top 100 taxpayers of Armenia for 2015 versus 11 banks in 2014.  Top five taxpayer banks are Ameriabank, VTB Bank (Armenia), Ardshinbank, HSBC Bank Armenia and Armbusinessbank.

ArmInfo. Famous Swiss investor and benefactor of Armenian descent, founder and owner of world known Franck Muller Watchland, owner of ArmSwissBank Vardan Sirmakes made a decision to allocate 1 mln USD under Shirak Development Program to Gyumri textile factory for business expansion, as the press service of ArmSwissBank informed ArmInfo, the first part of financing was already made in January 2016.

ArmInfo. Armenia's banking sector paid 31.9 billion drams to the state budget for 9 months of 2015, which is by 6.3% more than a year ago. Profit and incomes taxes accounted for 28.9 billion drams of total. According to the State Revenue Committee of Armenia, 14 (vs.  11 for 9 months of 2014) out of 21 operating banks were listed among top 100 of taxpayers in Armenia for 9 months of 2015.  Ameriabank, Ardshinbank, VTB Bank (Armenia), HSBC Bank Armenia, and Armbusinessbank were top five of largest taxpayer-banks in Armenia. 

In the first half of 2015 Armenian banks paid 22.558 bln AMD taxes to the state budget, which is by 6.8% more than a year ago. 20.633 bln AMD accrued to profit and income tax. According to the State Revenue Committee of Armenia, top 100 taxpayers for the first half of 2015 include 15 out of 21 operating banks (versus 11 in Q1 2014).  Top five of taxpayer - banks comprises VTB Bank (Armenia), Armbusinessbank, Ardshinbank, Ameriabank, and HSBC Bank Armenia. 

Armenia's banking system paid 9.742 bln drams taxes (including 8.681 bln drams income and profit taxes) to the state budget in Q1 2015, which is by 9.2% more than a year ago. According to the State Revenue Committee of Armenia, top 100 taxpayers for Q1 2015 include 13 out of 12 operating banks (versus 11 in Q1 2014).