ArmInfo.In the first quarter of 2026, Armenia's banking system increased tax payments to the state treasury by 3.2% annually, reaching 28.6 billion drams ($75.9 million). Notably, 84.8% of this total—approximately 24.3 billion AMD—was derived from direct taxes, marking a 2.1% increase from the previous year.
According to data from the State Revenue Committee of the Republic of Armenia, all 17 banks operating in Armenia secured spots on the list of the country's 1,000 largest taxpayers, with 12 banks in the top 100 (compared to 14 the previous year). Specifically, the top five banks include Ameriabank, Ardshinbank, Acba Bank, Evocabank, and Inecobank. Based on the results of Q1 2026, the top five banks contributed 17.2 billion drams to the state treasury in taxes (with a 10.9% year-on-year increase), of which 14.6 billion drams were in direct taxes (with a 9.7% year-on-year increase).
The top five banks account for 60.2% of the total tax revenues from the banking system. In the total tax revenues of the 1,000 largest taxpayers in Armenia, the banking system's share decreased from 6.8% to 6.2% over the year. The leader among banks in terms of taxes paid, Ameriabank took 13th place (compared to 12th a year ago), having transferred 4.8 billion drams to the state budget, approximately 3.7 billion of which were direct taxes (including profit and income taxes). Ardshinbank came in 17th place (compared to 16th a year ago), having transferred 4.1 billion drams to the state treasury-3.6 billion drams being direct taxes. Acba Bank took 18th place (the same as a year earlier), having paid 3.7 billion drams, 3.2 billion of which were direct taxes. Next came Evocabank, moving up from 42nd to 25th place, having transferred 2.3 billion drams to the state treasury, 2.2 billion of which were direct taxes. Inecobank rounded out the top five, taking 32nd place (versus 44th a year earlier), having paid 2.2 billion drams, 1.8 billion of which were in direct taxes.
The top hundred also includes FAST Bank - 48th place (1.5 billion drams, 1.4 million drams - direct taxes), Converse Bank - 51st place (1.5 billion drams, 1.3 billion - direct taxes), Armeconombank - 54th place (1.4 billion drams, 1.2 billion - direct taxes), IDBank - 56th place (1.4 billion drams, 1.2 billion - direct taxes), AraratBank - 65th place (1.2 billion drams, 1 billion - direct taxes), VTB Bank (Armenia) - 69th place (1.1 billion drams, 1 billion - direct taxes), AMIO Bank - 71st place (1.1 billion drams, 951.2 million - direct taxes). ArmSwissBank, ranked 102nd in the top 100, paying 1.1 billion AMD to the state treasury, 951.1 million - direct taxes.
Next on the list of major bank taxpayers are Artsakhbank (204th place) (400.9 million drams, 369.8 million- direct taxes), Unibank (271st place) (296.3 million drams, 137 million - direct taxes), Byblos Bank Armenia (273rd place) (292.7 million drams, 246.5 million- direct taxes), and Mellat Bank (512th place) (169.1 million drams, 153 million- direct taxes).
According to the Express Ranking of Armenian Banks as of March 31, 2026, prepared by the ArmInfo Investment Company, the total accumulated profit of the Armenian banking system as of that date reached 1.1 trillion AMD ($2.9 billion), an increase of 21% year-on-year. The top five banks by accumulated profit are Ameriabank, Ardshinbank, Acba Bank, Evocabank, and Converse Bank. The banking system ended the first quarter of 2026 with a net profit of AMD 125.5 billion or $332.8 million (an increase of 2.3% year-on- year). After paying taxes, the net profit amounted to AMD 103.5 billion ($274.4 million), an increase of 2.6% year-on-year. The TOP 5 banks by net profit are Ardshinbank, Ameriabank, Acba Bank, AraratBank, and Inecobank. (The calculated exchange rate of the dram against the USD as of March 31, 2026, was AMD 377.16/$1).
