List of banks in Armenia

This is a list of banks in Armenia.

Central bank

Central Bank of Armenia^[1]

Commercial banks

As of 4 November 2024, there are 18 commercial banks operating in Armenia. This includes:^[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	"AMIO BANK" 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 bank" OJSC^[6]	1996	Yerevan	58	1,348	311,023	642	AGCAAM22
5	"Inecobank" CJSC^[7]	1996	Yerevan	26	950	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] (not retail banking)	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
18	Fast Bank	2022	Yerevan	35	1000	30,100	78	FCAOAM22
-	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. 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:

Asian Development Bank, regional development bank representative office in Armenia opened in 2005.
Interstate Bank, regional development bank representative office in Armenia opened in 1994.
Rosselkhozbank, special state agricultural bank of Russia representative office in Armenia opened in 2012.
Panarmenian Bank, enterprise development bank opened in 2008. Was reorganized into a fund in August 2018.^[25]
Armenia is a member of the European Bank for Reconstruction and Development, the EBRD maintains a representative office in Yerevan.^[26]
The Eurasian Development Bank maintains a representative office in Yerevan, Armenia is a full member.
The World Bank maintains a representative office in Yerevan, Armenia is a full member of the World Bank.^[27]
Armenia is a member of the International Monetary Fund, the IMF maintains a representative office in Yerevan.^[28]
The International Bank for Reconstruction and Development maintains a representative office in Yerevan.^[29]
Armenia is a founding member of the Black Sea Trade and Development Bank.^[30]
As of 2018, Armenia is a regional member of the Asian Infrastructure Investment Bank.

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.

References

^ Central Bank of Armenia
^ "List of banks in Armenia provided by the Central Bank of Armenia".
^ Ameriabank
^ Amio Bank
^ Ardshinbank
^ ACBA-Credit Agricole Bank
^ Inecobank
^ Converse Bank
^ VTB Armenia
^ Araratbank
^ HSBC Bank Armenia
^ Unibank Armenia
^ ArmEconomBank
^ ArmSwissBank
^ Artsakhbank
^ Anelik Bank
^ Prometey Bank
^ Byblos Bank Armenia
^ Mellat Bank
^ "Ranking of most profitable Armenian banks in quarter one, 2018". ArmBanks.am. Retrieved 2018-05-06.
^ "Ranking of Armenian banks by size of assets in 2017". ArmBanks.am. Retrieved 2018-03-22.
^ "ARKA presents ranking of most profitable banks in 2017". ArmBanks.am. Retrieved 2018-03-22.
^ "Five Armenian banks account for more than half of mortgage lending". ArmBanks.am. Retrieved 2018-03-22.
^ "Fitch's bank sector outlook for Armenia in 2018 remains stable". ArmBanks.am. Retrieved 2018-03-22.
^ "ARKA News Agency presents top 10 events in Armenian financial market in 2017". ArmBanks.am. Retrieved 2018-03-22.
^ "The EBRD in Armenia".
^ "Armenia". Retrieved 2018-04-13.
^ "IMF Resident Representative Office in Armenia".
^ "Overview".
^ https://www.bstdb.org/countries/armenia/membership. {{cite news}}: Missing or empty |title= (help)

External links

[1] Central Bank of Armenia

[2] "List of banks in Armenia provided by the Central Bank of Armenia".

[3] Ameriabank

[4] Amio Bank

[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] "The EBRD in Armenia".

[27] "Armenia". Retrieved 2018-04-13.

[28] "IMF Resident Representative Office in Armenia".

[29] "Overview".

[30] ttps://www.bstdb.org/countries/armenia/membership. {{cite news}}: Missing or empty |title= (help)

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