Ameriabank tops list of major tax payers among Armenia`s banks 

ArmInfo.  In the first quarter of 2023, the banking system of Armenia increased tax payments to the state treasury by 25% per annum - up to 27.7 billion drams ($70.8 million). Of this amount, 85.5% or 23.8 billion drams were paid in direct taxes, with an annual growth of 26%. This is evidenced by the data of the State Revenue Committee of the Republic of Armenia.

All 17 banks operating in Armenia were included in the list of 1000 large taxpayers of the country, with 14 banks in the first hundred (versus 12 a year earlier).

In particular, the top five are Ameriabank, Ardshinbank, IDBank, ACBA Bank and ArmSwissbank.  According to the results of the first quarter of 2025, the top five banks sent 15.5 billion drams to the state treasury in taxes, with a 25% increase over the year, of which 13.3 billion were in direct taxes (with an annual increase of 25.5%).

The top five banks account for 56% of the total tax deductions to the state treasury by the banking system.  In the total tax deductions of 1000 large taxpayers of Armenia, the share of the banking system increased from 6.3% to 6.8% over the year.

The leader among banks in terms of the amount of taxes paid -  Ameriabank moved up from 14th to 12th place, sending 3.4 billion drams to the state budget, of which about 2.9 billion were in direct taxes (including profit tax and income tax). Next comes Ardshinbank, which took the 16th place (versus the 22nd a year ago), having transferred 3.3 billion drams to the state treasury, of which 2.4  billion drams were direct taxes. IDBank moved up to the 17th place from 67th, having paid 3.2 billion drams to the state budget, of which 3 billion drams were direct taxes. ACBA Bank took the 18th place (versus the 13th a year ago), having paid 3.2 billion drams, of which 2.7 billion were direct taxes. ArmSwissBank rounds out the top five, jumping from 106th to 29th place, having replenished the state budget by 2.2 billion drams, of which 2.1 billion drams were direct taxes.

The top hundred also includes Evocabank - 42nd place (1.7 billion drams, of which over 1.6 billion - in direct taxes), INECOBANK - 44th place (1.6 billion drams, of which 1.4 billion - in direct taxes), Unibank - 55th place (1.3 billion drams, of which 1.1 billion drams - in direct taxes), AMIO Bank - 58th place (1.3 billion drams, of which 910.5 million drams - in direct taxes), Converse Bank - 59th place (1.3 billion drams, of which 1.1 billion - in direct taxes), Armeconombank - 64th place (1.2 billion drams, of which 1 billion - in direct taxes), Araratbank - 67th place. (1.1 billion drams, of which 1 billion - in direct taxes), VTB Bank (Armenia) - 75th place (989.5 million drams, of which 855.6 million - in direct taxes), FAST Bank - 93rd place (854 million drams, of which 685.2 million drams - in direct taxes), Next in the list of the largest taxpayers among  banks are Artsakhbank - 211th place (351.7 million drams, of which 306.2 million drams - in direct taxes), Byblos Bank Armenia - 286th place (275.3 million drams, of which 234 million - in direct taxes), and Mellat Bank - 487th place (158.2 million drams, of which 145.2 million - in direct taxes).

According to the Express Ranking of Armenian Banks as of March 31, 2025, prepared by ArmInfo Investment Company, the total accumulated profit of the Armenian banking system as of that date reached 905.8 billion drams ($2.3 billion), having increased by 35.3% year-on-year. The top five leaders in terms of accumulated profit are Ardshinbank, Ameriabank, ACBA Bank, Converse Bank and Evocabank. The banking  system ended the first quarter of 2025 with a balance sheet profit of 122.3 billion drams or $312.4 million (with an annual growth of 20.8%), after paying taxes from which the net profit reached 100.6 billion drams ($256.9 million), having increased by 21% year-on-year. In terms of net profit, the TOP-5 include Ardshinbank, Ameriabank, ACBA Bank, INECOBANK and Evocabank. (The calculated exchange rate of the dram against the dollar as of 31.03.2025 was 391.57 drams/$1).

The process of merging HSBC Bank Armenia with Ardshinbank was completed on November 29, 2024, and since then, Ardshinbank's subsidiary, Ardshininvestbank CJSC, has been operating. In this regard, starting from the results of 2024, Ardshinbank publishes a consolidated balance sheet, taking into account which Ardshininvestbank CJSC indicated in the list is not calculated by IC ArmInfo in the total volume of tax payments of the banking system to the state treasury, but for the comparability of annual dynamics, the balance sheet indicators of the then still functioning HSBC Bank Armenia are taken into account.