In the first nine months of 2024, Armenia’s banking sector demonstrated significant growth across all key indicators, according to data published by the Union of Banks of Armenia.
The total capital of the banking system increased by approximately $670 million (17.6%), reaching $4.48 billion. Total assets grew by $2.47 billion (10.4%), amounting to $26.14 billion.
The loan portfolio of the banks also showed substantial growth, rising by $1.87 billion (14.5%) to reach $14.84 billion. Liabilities to clients increased by $1.03 billion (7.2%), totaling $15.24 billion.
During the reporting period, Armenia’s banking system generated a profit of around $691 million.
Previously, BMG reported that Ardshinbank recorded the highest profit among Armenian banks in the first nine months of the year, earning approximately $214 million.
Ameriabank solidified its position as the second most profitable commercial bank in Armenia, generating a net profit of around $107.3 million in the first three quarters of 2024.
Notably, nearly all banks in the country finished the reporting period with a positive financial result. However, three financial institutions — HSBC, Artsakhbank, and Byblos Bank — experienced a decline in net profit compared to the previous year.
