List of banks in Armenia
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Central bank

*
Central Bank of Armenia The Central Bank of Armenia ( hy, Հայաստանի Կենտրոնական Բանկ, translit=Hayastani Kentronakan Bank) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issu ...


Commercial banks

As of 31 December 2017, there are 17 commercial banks operating in
Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ' ...
. This includes: * 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 Converse may refer to: Mathematics and logic * Converse (logic), the result of reversing the two parts of a definite or implicational statement ** Converse implication, the converse of a material implication ** Converse nonimplication, a logical ...
, 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 HSBC Holdings plc is a British multinational corporation, multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In ...
, 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. 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. 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. 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.


Ratings

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


Development banks/representative offices

Below is a list of regional and international banks which have operations in Armenia: *
Asian Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field offic ...
, 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. *Armenia is a member of the European Bank for Reconstruction and Development, the EBRD maintains a representative office in Yerevan. *The
Eurasian Development Bank The Eurasian Development Bank (EDB) is an international financial institution investing in the development of the economies, trade and other economic ties, and integration in Eurasian countries. The EDB was founded in 2006 and is headquartered in ...
maintains a representative office in Yerevan, Armenia is a full member. *The
World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...
maintains a representative office in Yerevan, Armenia is a full member of the World Bank. *Armenia is a member of the
International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...
, the IMF maintains a representative office in Yerevan. *The International Bank for Reconstruction and Development maintains a representative office in Yerevan. *Armenia is a founding member of the
Black Sea Trade and Development Bank The Black Sea Trade and Development Bank (BSTDB) is an international financial institution serving the eleven member founding countries of the Black Sea Economic Cooperation, a regional economic organization. It supports economic development an ...
. *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 Bbank, merged with ArmEconomBank. *ProCredit Bank, acquired by Inecobank.


See also

* Armenia Securities Exchange *
Central Depository of Armenia The Central Depository of Armenia (CDA) ( hy, Հայաստանի կենտրոնական դեպոզիտարիա, translit=Hayastani kentronakan depozitaria) is the Central securities depository, Central Depository of Armenia, established in 1996. Th ...
*
Economy of Armenia The Armenian economy contracted sharply in 2020, by 5.7%, mainly due to the 2020 Armenia-Azerbaijan war. In contrast it grew by 7.6 per cent in 2019, the largest recorded growth since 2007, while between 2012 and 2018 GDP grew 40.7%, and key ba ...
*
List of banks in Europe This is a list of banks in Europe. Largest banks in Europe The 20 largest banks in Europe by total assets, as of December 31, 2021. Albania Andorra Armenia * HSBC Bank Armenia * ACBA-Credit Agricole Bank *Ameriabank * Anelik Bank *Ar ...


References


External links


banks.amwww.armbanks.am by ARKA news agency
{{List of banks in Europe *
Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ' ...
Banks A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becaus ...
Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ' ...
Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ' ...