The State Revenue Committee of Armenia has published a list of the country's 1,000 largest taxpayers for the first half of 2024. Particular attention was drawn to the banking sector, where an unusual trend is observed: the largest banks are showing profit growth while simultaneously reducing tax payments.
"Ardshinbank," which last year was among the top taxpayers with payments of around 19 billion drams (over 48 million dollars), reduced its tax contributions by 69% this year. For the first half of 2024, the bank paid only 5.9 billion drams (over 15 million dollars).
At the same time, "Ardshinbank's" net profit, as earlier reported by BMG, grew to a record 50 billion drams (over 128 million dollars), which is 11.8 billion drams more than in the same period last year.
A similar situation is observed at "Ameriabank." The bank reduced its tax payments from 19.8 billion drams (about 51 million dollars) last year to 17.5 billion drams (about 45 million dollars) this year. However, "Ameriabank's" net profit grew to 27.3 billion drams (over 70 million dollars), which is 5.7 billion drams more than last year's figure.
Earlier, BMG reported that Armenia's commercial banks posted a net profit of 442 million dollars for the first half of 2024, which is 21% more compared to the same period last year.
