YEREVAN, July 18 /ARKA/. ARKA news agency has released a recurrent ranking of the most profitable commercial banks in Armenia in the first half of 2024.
The net profit of all 18 banks stood at 172.1 billion drams against 142 billion drams in the same period of 2023, increasing by 21.2%. All 18 banks operating in Armenia ended the first half of the year with profit.
The top five banks in terms of net profit were Ardshinbank, Ameriabank, Inecobank, Acba Bank and IDBank, which accounted for 66 per cent or AMD 114 billion of the total profit.
The most profitable bank was Ardshinbank, which retained the position of the leader. The bank’s net profit for the first six months of this year totalled AMD 50.1 billion against AMD 38.2 billion in the same period of 2023 (31% growth).
It was followed by Ameriabank with a profit of AMD 27.3bn vs. AMD 21.7bn in the first six months of 2023 (up 26%).
Third was Inecobank, which made a profit of AMD 15.5 billion in the first half of 2024 against AMD 12.8 billion in the same period of 2023 (up 20․4%).
Acba Bank was 4th with a profit of AMD 12.9 billion against AMD 11.6 billion (up 11.4%).
IDBank’s profit for the first half of 2024 was AMD 8.2bn vs. AMD 7.6bn for January-June 2023 (8.1% growth).
The ranking is compiled based on ARKA news agency’s bulletin ‘Banks of Armenia’, based in turn on the reports of Armenian banks published in accordance with international IFRS standards.
To purchase this bulletin and other information products of the news agency, please contact the Marketing Department (e-mail: [email protected]). -0-
