Armenia’s banking system records growth across almost all indicators in 1Q 2026

We are presenting to your attention the summary of the results of the Armenian banking sector for 1Q 2026, 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 1Q 2026.

Net Profit

The total net profit of all Armenian banks during 1Q 2026 is equal to 103.5 bln AMD, which is by 2,7 bln AMD, or by 2,6% more than it was recorded in the same period in 2025.

The largest profit was recorded by Ardshinbank, amounting to 33.1 bln AMD. 

All banks registered a profit during the mentioned period.

Total loan portfolio

The total loan portfolio of the banking sector during 1Q 2026 increased by 4,1%.

As of 31.03.2026, the total loan portfolio amounted to 8.011 bln AMD and its share in total assets is 61%.

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

Market share of 5 largest banks (Ameriabank, Ardshinbank, Acba bank, Amio bank and Inecobank) by total loan portfolio is 64.5%.
Ameriabank has the largest market share – 22%.

Bonds

During 1Q 2026, the total balance of bonds issued by Armenian banks increased by 296 bln AMD, or 56,3%.

As of 31.03.2026, the total balance of issued bonds amounts to 823 bln AMD.

13 out of 17 banks have issued bonds.

Total Equity

During 1Q 2026, the total equity of the Armenian banking sector increased by 123 bln AMD, or 5,6% and amounts to 2.299 bln AMD. 

This increase is mainly due to generated profit in 1Q 2026, amounting to 103.5 bln AMD and increase of share capital of Amio bank, amounting to 20 bln AMD.

During 1Q 2026, only Armeconombank declared dividend amounting to 220 mln AMD.

The comprehensive analyses of the RA banking system’s results for 1Q-2026 and previous periods are available at the following link․