We are presenting to your attention the summary of the results of the Armenian banking sector for 9 months of 2025, prepared and published exclusively on Banks.am by a specialized consulting company RUMELS Management Solutions.

Ruben Melikyan has more than 25 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 in 9 months of 2025.

Net Profit

The total net profit of all Armenian banks during 9 months of 2025 is equal to 308 bln AMD, which is by 49 bln AMD, or by 15% more than it was recorded in the same period of 2024.

The largest profit was recorded by Ardshinbank, amounting to 103 bln AMD. 

All banks registered a profit during mentioned period.

Total loan portfolio

The total loan portfolio of the banking sector during 9 months of 2025 increased by 15,8%.

As of 30.09.2025, the total loan portfolio amounted to 7,268 bln AMD, and its share in total assets is 61%.

The mentioned total loan portfolio includes retail and corporate loan portfolios.

The market share of 5 largest banks (Ameriabank, Ardshinbank, Acba bank, Amio bank and Inecobank) by total loan portfolio is 64,7%.

Ameriabank has the largest market share - 21,2%.

Bonds

During 9 months of 2025, the total balance of bonds issued by Armenian banks decreased by 14 bln AMD, or 2,7%.

As of 30.09.2025, the total balance of issued bonds amounts to 494 bln AMD.

13 out of 17 banks issued bonds.

Total Equity

During 9 months of 2025, the total equity of the Armenian banking sector increased by 251 bln AMD, or 14,2% and amounted to 2.028 bln AMD.

During the mentioned period 4 Armenian banks increased their share capital by 138,5 bln AMD.

- Ardshinbank - 97,5 bln AMD
- Amio bank - 20 bln AMD
- IDBank - 17 bln AMD
- Unibank - 3,9 bln AMD

During 9 months of 2025, 9 banks paid dividends, amounting to 182 bln AMD:

- Ardshinbank – 138 bln AMD (from which 97,5 bln AMD was allocated to share capital, as common and preferred shares)
- Inecobank – 10 bln AMD
- Unibank – 7,8 bln AMD
- IDBank – 7 bln AMD
- Acba bank – 6,6 bln AMD
- Converse Bank – 4,3 bln AMD
- AraratBank – 4 bln AMD
- Evocabank – 2,5 bln AMD
- Armeconombank – 1,3 bln AMD

To learn more about the financial analyses of the Armenian banking sector for 9 months of 2025 and other periods, please follow this link.