YEREVAN, January 28. /ARKA/. ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.
The net profit of Armenia-based banks in 2024 amounted to AMD 363.1 bln, against AMD 225.7 bln received in 2023, increasing by 60.9%. All 17 banks operated at a profit․ At the same time, 15 banks’ profits increased by 80.5% compared to last year, while three banks’ profits decreased by 0.7%.
According to the ranking of ARKA news agency, the top 5 banks in terms of profit were Ardshinbank, Ameriabank, Inecobank, Acba Bank and IDBank. They accounted for 73% or AMD 266.1 bln of the total banking profit.
Ardshinbank’s net profit amounted to AMD 132.7 billion against a profit of AMD 61.1 billion in 2023 (117.2% growth).
Ameriabank with a profit of AMD 60 bln vs. AMD 46.1 bln profit in 2023 (growth – 30.4%) was second.
Third was Inecobank with a profit of AMD 29.2 bln in 2024 vs. AMD 26.4 bln in 2023 (10.8% growth).
Acba Bank with a profit of AMD 28.4 bln, down 0.1% year-on-year was fourth. And IDBank closed the top five. The bank’s profit was almost the same as in the previous year – 15.8 billion drams, (up 0․2%).
The ranking of the banks is compiled based on ARKA news agency’s bulletin “Banks of Armenia”, prepared on the basis of Armenian banks’ reports published in accordance with IFRS.
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