YEREVAN, October 20. /ARKA/. According to ARKA news agency's quarterly bulletin 'Banks of Armenia,' the top 5 commercial banks of Armenia by asset size as of 30.09.2023 were Ardshinbank, Ameriabank,  Armbusinessbank, Acba Bank and Inecobank.

The total assets of all 18 banks amounted to about AMD 8.8 trillion, having increased by 4.55% as compared to the beginning of the year.

According to the ranking, Ardshinbank was the leading bank in terms of assets which stood at AMD 1.5 trillion (5% decrease from the beginning of the year).

Ameriabank was second with AMD 1.3 trillion worth assets (6.28% growth). Armbusinessbank was third with assets of AMD 831.2 billion (2.49% growth).

Acba Bank was forth with AMD 757.1 bln (13.87% growth) and Inecobank was fifth with AMD 553.4 billion in assets (3.84% growth).

The ranking is compiled based on Armenian banks' financial statement published in accordance with International Financial Reporting Standards (IFRS)..($1 - AMD 401.82) -0-