YEREVAN, October 27. /ARKA/. As of September 30, 2022, the profit after tax of the 17 Armenia-based commercial banks exceeded AMD 187.7bln, having increased by 193.29% as compared to the same period of the last year.

According to ARKA news agency's ranking of the banks, Ardshinbank is the leading bank by size of profit, which amounted to AMD 41.11 bln (310.89% growth).

Ameriabank ranks second with profit of over AMD 31 bln (113.89% growth), and third is Evocabank with AMD 20.57 bln profit (4.12% growth).

Inecobank ranks fourth with almost AMD 16.9 bln (174.69% growth); Acba bank comes fifth with AMD 16.35 bln (120.86% growth); the sixth is Araratbank with about AMD 10.19 bln profit (246.97% growth); Conversebank ranks seventh with about AMD 10.1 bln (568.81% growth).

IDBank is eighth with profit of about AMD 9, 78 bln (725.34% growth); HSBC Bank Armenia is ninth in the ranking with profit of about AMD 6, 4 bln (119.11% growth). Artsakh bank is at the bottom of the list of the top ten with 6.18 bln. drams (growth by 3.25%).

The ranking is compiled by Arka news agency based on its quarterly bulletin ‘Banks of Armenia’ that contains operative reports of Armenian banks, published in accordance with IFRS.

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