List_of_banks_in_Armenia

List of banks in Armenia

List of banks in Armenia

Banks in Armenia

Central bank

Commercial banks

As of 31 December 2017, there are 17 commercial banks operating in Armenia. This includes:[2]

More information Rank, Name ...
  • Ameriabank opened in 1910 as the Yerevan branch of the Caucasus Trade Bank.
  • Armbusinessbank opened in 1994 as the legal successor of the "Arminvestbank" operating since 1991. It was re-branded in 2023 as Amio Bank.
  • Byblos Bank Armenia opened in 2000 as the legal successor of the "International Trade Bank" operating since 1992.
  • Converse Bank, opened in 1993 as "North Armenian Shareholding Bank", incorporated into Converse Bank in 1997.
  • Evocabank opened in 1990 as Prometheus Bank, and renamed in 2001 as Prometey Bank. It was re-branded in 2017 as Evocabank.
  • HSBC Bank Armenia, opened in 1996 as "Midland Armenia Bank", incorporated into HSBC Bank Armenia in 1999.
  • VTB Armenia, opened in 1993 as the "ArmSavingsBank", incorporated into VTB Armenia in 2006.

Rankings

Armenia-based commercial banks earned a total of 20.1 billion drams in net profit in the first quarter of 2018, up from 10.7 billion drams they had earned in the same period last year. The growth was 87.2%. All 17 banks closed the first quarter with a profit. The top five banks in terms of net profit growth were Artsakhbank, Ameriabank, Ardshinbank, Acba bank and Inecobank.[20]

Ameriabank was leading by size of assets by the end of 2017. The top five largest banks in terms of assets were Ameriabank, Armbusinessbank, Ardshinbank, Acba bank and Inecobank, which accounted for 55.8% of all assets.[21]

Out of 17 banks 15 were profitable in 2017. The top five banks by size of net profit were Ameriabank, Inecobank, Ardshinbank, Acba bank and IDBank. Ameriabank was the most profitable bank posting a total of 7.6 billion drams of net profit, an increase of 23.89% over the previous year.[22]

According to data from first 3 quarters of 2017 the five leading banks in terms of mortgage portfolios are Ardshinbank, Converse Bank, Ameriabank, Araratbank and HSBC Bank Armenia, which account for 53.2% of the total mortgage lending.[23]

Ratings

Fitch Ratings’ bank sector outlook for Armenia in 2018 remains stable.[24]

Development banks/representative offices

Below is a list of regional and international banks which have operations in Armenia:

Former commercial banks

  • Armenian Development Bank, merged with Araratbank.
  • AreximBank-Gazprombank, acquired by Ardshinbank.
  • Cascade Bank, merged with Ameriabank.
  • BTA Bank, merged with ArmEconomBank.
  • ProCredit Bank, acquired by Inecobank.

See also

References

  1. [1]
    Central Bank of Armenia
  2. [2]
    "List of banks in Armenia provided by the Central Bank of Armenia".
  3. [3]
    Ameriabank
  4. [4]
    Amio Bank
  5. [5]
    Ardshinbank
  6. [6]
    ACBA-Credit Agricole Bank
  7. [7]
    Inecobank
  8. [8]
    Converse Bank
  9. [9]
    VTB Armenia
  10. [10]
    Araratbank
  11. [11]
    HSBC Bank Armenia
  12. [12]
    Unibank Armenia
  13. [13]
    ArmEconomBank
  14. [14]
    ArmSwissBank
  15. [15]
    Artsakhbank
  16. [16]
    Anelik Bank
  17. [17]
    Prometey Bank
  18. [18]
    Byblos Bank Armenia
  19. [19]
    Mellat Bank
  20. [20]
    "Ranking of most profitable Armenian banks in quarter one, 2018". ArmBanks.am. Retrieved 2018-05-06.
  21. [21]
    "Ranking of Armenian banks by size of assets in 2017". ArmBanks.am. Retrieved 2018-03-22.
  22. [22]
    "ARKA presents ranking of most profitable banks in 2017". ArmBanks.am. Retrieved 2018-03-22.
  23. [23]
    "Five Armenian banks account for more than half of mortgage lending". ArmBanks.am. Retrieved 2018-03-22.
  24. [24]
    "Fitch's bank sector outlook for Armenia in 2018 remains stable". ArmBanks.am. Retrieved 2018-03-22.
  25. [25]
    "ARKA News Agency presents top 10 events in Armenian financial market in 2017". ArmBanks.am. Retrieved 2018-03-22.
  26. [26]
    "The EBRD in Armenia".
  27. [27]
    "Armenia". Retrieved 2018-04-13.
  28. [28]
    "IMF Resident Representative Office in Armenia".
  29. [29]
    "Overview".
  30. [30]
    https://www.bstdb.org/countries/armenia/membership. {{cite news}}: Missing or empty |title= (help)
Share this article:

This article uses material from the Wikipedia article List_of_banks_in_Armenia, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.