List of banks in Armenia

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Central bank[edit]

Commercial banks[edit]

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

Rank Name Founded HQ #
branches
#
employees
Assets
Dec 2017
million AMD
Assets
Dec 2017
million USD
SWIFT
1 "Ameriabank" CJSC [3] 1910 Yerevan 14 695 677,722 1,400 ARMIAM22
2 "ARMBUSINESSBANK" CJSC [4] 1991 Yerevan 53 898 574,944 1,188 ARMNAM22
3 "Ardshinbank" CJSC [5] 2003 Yerevan 64 1,154 568,273 1,174 ASHBAM22
4 "ACBA-CREDIT-AGRICOL BANK" CJSC [6] 1996 Yerevan 58 1,348 311,023 642 AGCAAM22
5 "InecoBank" CJSC [7] 1996 Yerevan 23 822 277,842 574 INJSAM22
6 "Converse Bank Corp" [8] 1993 Yerevan 31 710 252,736 522 COVBAM22
7 "VTB Bank Armenia" CJSC [9] 1993 Yerevan 67 1,201 216,060 446 ARMJAM22
8 "ARARATBANK" OJSC [10] 2004 Yerevan 61 884 212,602 439 ARMCAM22
9 "HSBC Bank Armenia" CJSC [11] 1996 Yerevan 7 414 208,649 431 MIDLAM22
10 "UniBank" OJSC [12] 2001 Yerevan 45 785 203,221 420 UNIJAM22
11 "ARMECONOMBANK" OJSC [13] 1991 Yerevan 50 872 190,803 394 ARECAM22
12 "ArmSwissBank" CJSC [14] 2004 Yerevan 1 110 162,020 335 ARSJAM22
13 "ArtsakhBank" CJSC [15] 1996 Yerevan 23 492 137,339 284 ARTSAM22
14 "ID Bank" CJSC [16] 1990 Yerevan 14 405 131,931 273 ANIKAM22
15 "EVOCABANK" CJSC [17] 1990 Yerevan 11 254 105,532 218 PRMLAM22
16 "Byblos Bank Armenia" CJSC [18] 1992 Yerevan 2 80 85,120 176 AEIEUS33
17 "Mellat Bank" CJSC [19] 1995 Yerevan 1 51 46,266 96 BKMTAM22
- Summary - - 525 11,175 4,362,083 9,010 -
  • 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.
  • 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[edit]

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-CREDIT AGRICOLE 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-CREDIT AGRICOLE 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-CREDIT AGRICOLE BANK and Anelik Bank. 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[edit]

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

Development banks/representative offices[edit]

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

Potential membership[edit]

Former commercial banks[edit]

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

See also[edit]

References[edit]

  1. ^ Central Bank of Armenia
  2. ^ "List of banks in Armenia provided by the Central Bank of Armenia".
  3. ^ Ameriabank
  4. ^ Armbusinessbank
  5. ^ Ardshinbank
  6. ^ ACBA-Credit Agricole Bank
  7. ^ InecoBank
  8. ^ Converse Bank
  9. ^ VTB Armenia
  10. ^ Araratbank
  11. ^ HSBC Bank Armenia
  12. ^ Unibank Armenia
  13. ^ ArmEconomBank
  14. ^ ArmSwissBank
  15. ^ Artsakhbank
  16. ^ Anelik Bank
  17. ^ Prometey Bank
  18. ^ Byblos Bank Armenia
  19. ^ Mellat Bank
  20. ^ "Ranking of most profitable Armenian banks in quarter one, 2018". ArmBanks.am. Retrieved 2018-05-06.
  21. ^ "Ranking of Armenian banks by size of assets in 2017". ArmBanks.am. Retrieved 2018-03-22.
  22. ^ "ARKA presents ranking of most profitable banks in 2017". ArmBanks.am. Retrieved 2018-03-22.
  23. ^ "Five Armenian banks account for more than half of mortgage lending". ArmBanks.am. Retrieved 2018-03-22.
  24. ^ "Fitch's bank sector outlook for Armenia in 2018 remains stable". ArmBanks.am. Retrieved 2018-03-22.
  25. ^ "ARKA News Agency presents top 10 events in Armenian financial market in 2017". ArmBanks.am. Retrieved 2018-03-22.
  26. ^ http://www.ebrd.com/armenia.html. Missing or empty |title= (help)
  27. ^ http://www.worldbank.org/en/country/armenia. Retrieved 2018-04-13. Missing or empty |title= (help)
  28. ^ http://www.imf.org/en/Countries/ResRep/ARM. Missing or empty |title= (help)
  29. ^ http://www.worldbank.org/en/country/armenia/overview. Missing or empty |title= (help)
  30. ^ https://www.bstdb.org/countries/armenia/membership. Missing or empty |title= (help)

External links[edit]