In the first three-quarters of 2024, all of Armenia’s eighteen banks saw profits.

Together, they saw profits rise 25% to AMD 268 billion (US$692 million).

The biggest profit, AMD 83 billion, was registered by Ardshinbank . This is an increase of 45% compared to the same period last year.

The profit of Ameriabank was some 42 billion drams, increasing by 21%.

Inecobank is next in terms of profit, with 23 billion drams, an increase of 19%.

Akba Bank and ID Bank rounded out the top five most profitable banks.