List of banks in Armenia

Central bank

• Central Bank of Armenia[1]

Commercial banks

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] (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
-	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

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

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]

Potential membership

• As of 2018, Armenia is a prospective 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 Bbank, merged with ArmEconomBank.
• ProCredit Bank, acquired by InecoBank.

See also

• Armenia Securities Exchange
• Economy of Armenia
• List of banks in Europe

References

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

• banks.am
• www.armbanks.am by ARKA news agency