YEREVAN, February 24. /ARKA/. ARKA news agency has compiled the ranking of Armenian banks by the number of their branches. Overall, there are now 538 bank branches across the country, 229 of which in the capital city Yerevan. It should be noted that 2 out of 17 banks – Armswissbank and Bank Mellat- have no branches at all.
The list of top 5 banks with the largest number of branches is headed by Ardshinbank, followed by VTB Bank (Armenia), Araratbank, ACBA-CREDIT AGRICOLE BANK and Armbusinessbank.
Ardshinbank runs a total of 73 branches, including 22 in Yerevan and 51 in the regions. The number of its branches surged after it acquired late last year Areximbank-Gazprombank Group. The Russian-owned VTB Bank (Armenia) has 67 branches – 24 in the capital and 43 outside it. Araratbank with 65 branches- 32 in Yerevan and 33 in the regions – is third. ACBA-CREDIT AGRICOLE BANK is fourth running 59 branches -17 in Yerevan and 42 in the regions of the country and ArmBusinessBank with 52 branches – 23 in the capital and 29 in the regions is fifth. Byblos Bank Armenia has only two branches. It should also be noted that all Armenian banks, except for HSBC Bank Armenia and Byblos Bank Armenia, have branches outside the capital Yerevan. The ranking is compiled based on data on the banks’ official websites. -0-
