Central bank

Commercial banks

As of March 2018 there are 17 commercial banks operating in Armenia. [2]

  • ACBA-Credit Agricole Bank, opened in 1996, SWIFT: AGCAAM22.[3]
  • Ameriabank, opened in 1910 as the Yerevan branch of the Caucasus Trade Bank, in 1992 became known as Ameriabank, SWIFT: ARMIAM22.[4]
  • Anelik Bank, opened in 1990, SWIFT: ANIKAM22.[5]
  • Araratbank, opened in 2004, SWIFT: ARMCAM22.[6]
  • Ardshinbank, opened in 2003, SWIFT: ASHBAM22.[7]
  • Armbusinessbank, opened in 1994 as the legal successor of the "Arminvestbank" operating since 1991, SWIFT: ARMNAM22. [8]
  • ArmEconomBank, opened in 1991, SWIFT: ARECAM22.[9]
  • ArmSwissBank, opened in 2004, SWIFT: ARSJAM22.[10]
  • Artsakhbank, opened in 1996, SWIFT: ARTSAM22.[11]
  • Bank Mellat Armenia, opened in 1995, SWIFT: BKMTAM22.[12]
  • Byblos Bank Armenia, opened in 2000 as the legal successor of the "International Trade Bank" operating since 1992, SWIFT:AEIEUS33.[13]
  • Converse Bank, opened in 1993 as "North Armenian Shareholding Bank", incorporated into Converse Bank in 1997, SWIFT: COVBAM22.[14]
  • Evocabank, opened in 1990 as Prometheus Bank, and renamed in 2001 as Prometey Bank. It was re-branded in 2017 as Evocabank, SWIFT: PRMLAM22.[15]
  • HSBC Bank Armenia, opened in 1996 as "Midland Armenia Bank", incorporated into HSBC Bank Armenia in 1999, SWIFT: MIDLAM22.[16]
  • InecoBank, opened 1996, SWIFT: INJSAM22.[17]
  • Unibank, opened in 2001, SWIFT: UNIJAM22.[18]
  • VTB Armenia, opened in 1993 as the "ArmSavingsBank", incorporated into VTB Armenia in 2006, SWIFT: ARMJAM22.[19]


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.[20]

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.[21]

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.[22]


Fitch Ratings’ bank sector outlook for Armenia in 2018 remains stable.[23]

Development banks/representative offices

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


External links