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. 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. On October 19, INECOBANK presented a new product - InecoOne - a system to control cash online 24/7.

ArmInfo.

ArmInfo. The client base of Armenia's banking system by August 2016 numbered 2 353 411 physical and 77 735 legal entities.  According to the National Statistic Service of Armenia, 2 431 146 clients had 3 375 809 accounts in Armenia's banks, from which 3 220 682 are accounts of physical entities and 155 127 of legal entities.

ArmInfo. EBRD's Energoredit Programme held an Energy Efficiency Forum for Armenia's businesses under the umbrella of EU4Energy Initiative by the European Union Delegation to Armenia during the EU Energy Days, on September 28. 

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. Share of non-performing  loans (NPLs) in loan portfolio of half of Armenian banks has exceeded  upper ceiling of critical threshold-upper than 16% versus  international critical threshold of 10-15%. There are large creditors  to the country's economy among them. 

ArmInfo. Board of Central Bank of Armenia terminated license of BTA Bank (Armenia) related to its merger with Armeconombank. The press-service of the CBA has informed that the Board has made decision on August 24 registering delivery-acceptance certificate under the merger agreement and revised charter of Armeconombank. The decision of the Central Bank on termination of license of BTA Bank comes into force since the moment of its publication. 

ArmInfo. According to the forecast of the Central Bank of Armenia assets of Armenian banking system will increase by 28.7% in 2016-2018 with 8.8% average year-over-year growth. At the same time loan portfolio will increase by 45.5% over three years (13.3% average y-o-y growth). According to "Prospects of Development of Banking System in 2016-2018" official forecast by CBA the structure of assets in terms of shares of the main components will experience the following changes: share of cash funds will reduce from 3.8% to 2.9%, corresponding accounts in the Central Bank and the banks will fall to 13.3% from 18.4%, deposits/loans placed in banks and financial organizations will fall to 1.7% from 2.1%. At the same time loan portfolio in total assets will increase to 66.4% from 58.8%, investments in securities will grow to 6.5% from 3.6%, leasing and factoring will demonstrate non- significant growth from 0.8% to 1%. Fixed assets will remain almost unchanged falling to 2.8% from 3%.

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. By April 2016, the customer base of the Armenian banking system had 2,300,214 individuals and 76,951 legal entities. According to the National Statistical Service of Armenia, as many as 2,377,165 customers had 4,344,714 accounts in Armenian banks, including 4,166,014 accounts of individuals and 178,700 accounts of legal entities.

ArmInfo. ARMPHONE is a new step towards improvement of Armenia's economy, Vahan Shakaryan, President and Executive Officer at Technology and Science Dynamics (TSD) Company, said during the presentation of the first Armenian smartphone - ARMPHONE - today, on June 6.  

ArmInfo. Increase of capital adequacy ratio in 2015 testifies to stability of Armenia's financial system. While presenting report on Armenia's financial stability at year end -2015 Head of Financial System Stability and Development Department of CBA Andranik Grigoryan explained that according to the results of 2015 growth of Armenian banks' capital adequacy ratio was registered at the background of growth of total capital of the system by 74 bln AMD.

ArmInfo. By April 2016, the customer base of the Armenian banking system had 2, 283,614 individuals and 76,649 legal entities. According to the National Statistical Service of Armenia, as many as 2,360,263 customers had 4,301,495 accounts in Armenian banks, including 4,124,168 accounts of individuals and 177,327 accounts of legal entities.

ArmInfo.The Central Bank of Armenia (CBA) has approved the delivery and acceptance act concluded between ProCredit Bank and INECOBANK under the merger agreement, and registered INECOBANK's redrafted charter. According to the new charter, INECOBANK is the legal successor of ProCredit Bank. The CBA press office has told ArmInfo that the CBA Board took that decision on 10 May 2016. By the same decision, the CBA has declared ProCredit Bank's No.85 license null and void.        

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. The Central Bank of Armenia has approved the merger agreement of ProCredit Bank and INECOBANK. The press office of INECOBANK told ArmInfo on April 28 that the Central Bank Board approved the merger agreement on April 26, 2016.   

ArmInfo. New segments of SME development are being formed in Armenia. They will gradually become the key segments and will assume the role of drivers, Aram Baloyan, Chief Commercial Officer at INECOBANK, has told ArmInfo.