We are presenting to your attention the summary of the results of the Armenian banking sector for 9 months of 2023 prepared and published exclusively on Banks.am by a specialized consulting company RUMELS Management Solutions.Ruben Melikyan has more than 23 years’ experience as a successful c-level executive (CEO/CFO), with a successful track record leading diverse management teams in different areas like audit, micro-finance, retail, FMCG and banking. Ruben Melikyan is an ACCA member; he graduated from Oxford University (EMBA) and received a Certificate on “Advanced Corporate Valuation” from NYU.The purpose of this study is to analyze the main financial indicators of the Armenian banking system during 9 months of 2023.Net ProfitThe total net profit of all Armenian banks during 9 months of 2023 is equal to 215 bln AMD, which is by 21 bln AMD or by 11% more than it was recorded during 9 months of 2022.All 18 banks have registered a profit during the mentioned period and 2/3 of the banks recorded an increase in net profit as compared to the same period of 2022.The largest profit was recorded by Ardshinbank, amounting to 57 bln AMD. Total loan portfolio The total loan portfolio of the banking sector during 9 months of 2023 has increased by 13.1%.As of 30.09.2023, the total loan portfolio has amounted to 4.722 bln AMD, and its share in total assets is 54%.The mentioned total loan portfolio includes retail and corporate loan portfolios. The market share of 5 largest banks (Ameriabank, Ardshinbank, Acba bank, Armbusinessbank and Inecobank) by total loan portfolio is 60.3%.Ameriabank has the largest market share - 19.1%. BondsDuring 9 months of 2023, the total balance of bonds issued by the Armenian banks has increased by 30 bln AMD, or 8.6%.As of 30.09.2023, the total balance of issued bonds amounts to 375 bln AMD.13 out of 18 banks issued bonds. Total EquityDuring 9 months of 2023, the total equity of the Armenian banking sector has increased by 170 bln AMD, or 13% amounting to 1.487 bln AMD.During 9 months of 2023, retained earnings (including general reserve) of the Armenian banking sector have increased by 136 bln AMD, or by 23% amounting to 718 bln AMD.10 banks declared dividends during 9 months of 2023, amounting to 81 bln AMD.1. Ardshinbank - 18.1 bln AMD 2. Ameriabank - 17.7 bln AMD 3. Inecobank - 13 bln AMD 4. IDBank - 8.25 bln AMD 5. HSBC Bank Armenia - 5.8 bln AMD 6. AraratBank - 5 bln AMD 7. Converse Bank - 4.4 bln AMD 8. ACBA Bank - 4.4 bln AMD 9. Evocabank - 3.4 bln AMD 10. Armeconombank - 1 bln AMD Full version of the analysis of the Armenian banking sector results for 9 months 2023 is available on this link.Full version of the analysis of the Armenian banking sector results for 1HY-2023 is available on this link.Full version of the analysis of the Armenian banking sector results for 1Q-2023 is available on this link.Full version of the analysis of the Armenian banking sector results for 2022 is available on this link.Full version of the analysis of the Armenian banking sector results for 9 months of 2022 is available on this link.Full version of the analysis of the Armenian banking sector results for 1HY-2022 is available on this link.Full version of the analysis of the Armenian banking sector results for 1Q-2022 is available on this link.Full version of the analysis of the Armenian banking sector results for 2021 is available on this link. Tweet Views 16147