YEREVAN, April 28. /ARKA/. The Russian-owned VTB Bank (Armenia) was the largest taxpayer among local commercial banks in the first quarter of the year, having paid a total of 1.19 billion drams in taxes, duties and other mandatory payments, the bank's press service reported.

The bank was 21st in the list of the 1000 largest corporate taxpayers in the country in the first three months of the year, according to data, released by the State Revenue Committee. The list of the 1000 largest taxpayers included all 17 Armenia-based commercial banks. Together they accounted for 5.6% of the total amount of taxes paid in the reporting period of time.

Overall, Armenia’s 1000 largest corporate taxpayers paid over 174.9 billion drams in various taxes in the first three months of 2017, up 11.7% or 18.4 billion drams from the first quarter of 2016.

VTB Bank (Armenia) was acquired by Russian VTB Group in 2004. The bank runs 67 branches across Armenia. ($ 1 - 484.53 drams). -0-