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, February 16 2024, 18:10
ArmInfo.Ameriabank maintains leadership in the banking system of Armenia in terms of the volume of
mortgage loans with a market share of 21.3% at the end of 2023. This is noted in the bank's message.
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Monday, February 12 2024, 20:43
ArmInfo. S&P Global Ratings upgraded its long-term issuer credit rating on Ardshinbank CJSC to 'BB-' from 'B+' and revised the outlook on the rating to "stable". At the same time, we affirmed our 'B' short-term issuer credit rating on the bank. This is noted in a message from S&P Global Ratings.
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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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Tuesday, October 31 2023, 20:17
ArmInfo. Unlike 2022, when the Armenian banking system received most of its profits from services provided to non-residents (accounts, payment cards, currency transactions, ed. note), in 2024 there is a serious demand for credit products, which will allow banks to more thoroughly generate profits. Governor of the Central Bank of Armenia Martin Galstyan stated during a press conference on October 31.
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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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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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Thursday, April 20 2023, 14:21
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Tuesday, January 31 2023, 22:17
ArmInfo.Loan investments In the banking system of Armenia during 2022, if we exclude the effect of the exchange rate, increased by 15%, which was secured by
mortgages. And deposits in Armenian banks increased by 43%. Chairman
of the Central Bank of Armenia MartIn Galstyan announced this during
a press conference on January 31.
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Friday, January 27 2023, 11:11
ArmInfo.Converse Bank wins ‘Best Trade Finance Provider’ award by Global Finance, maintaining its leading position in this field in Armenia.
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Thursday, January 26 2023, 09:35
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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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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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Thursday, July 28 2022, 18:35
ArmInfo.In H1 2022, the banking system of Armenia sent more than 32 billion drams or $80.7 million to the state treasury through taxes, which is 31% more than a
year ago.
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Tuesday, January 25 2022, 16:31
ArmInfo. Armenian banks managed to improve the dynamics of net profit in 2021 with a 54% growth (from a 22.3% decline in 2020). In absolute terms, the total profit of the system amounted to 87.3 billion drams or $181.8 million.
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Friday, October 29 2021, 00:24
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