Net profit of the Armenian banking sector in 1HY 2026 equals to approximately $573 million

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

Net Profit

The total net profit of all Armenian banks during 1HY 2026 is equal to 214.3 bln AMD (USD 573 million), which is by 13,6 bln AMD, or by 6,8% more than it was recorded in 1HY 2025.

All banks registered a profit during the mentioned period.

The largest profit was recorded by Ardshinbank, amounting to 68,8 bln AMD. 

Total loan portfolio

The total loan portfolio of the banking sector during 1HY 2026 increased by 11,4%.

As of 30.06.2026, the total loan portfolio amounted to 8,56 trillion AMD, and its share in total assets is 62%.

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

The market share of 5 largest banks (Ameriabank, Ardshinbank, Acba bank, Inecobank  and Amio bank) by total loan portfolio is 65,1%.

Ameriabank has the largest market share - 22,9%.

Bonds

During 1HY 2026, the total balance of bonds issued by Armenian banks increased by 304 bln AMD, or 57,8%.

The significant increase was primarily attributable to Ardshinbank’s issuance of USD 600 million in Eurobonds.

As of 30.06.2026, the total balance of issued bonds amounts to 830 bln AMD.

13 out of 17 banks issued bonds.

Total Equity

During 1HY 2026, the total equity of the Armenian banking sector increased by 77 bln AMD, or 3,6% and amounted to 2.23 trillion AMD. 

This growth was mainly attributable to:

- Net profit of 214 bln AMD; 
- Increase of share capital of Amio bank and Fast Bank by 20 bln AMD and 5 bln AMD, respectively
- Declared dividends amounting to 169 bln AMD.
 
During 1HY 2026, 11 banks declared dividends amounting to 169 bln AMD

Ardshinbank - 100,3 bln AMD,
Ameriabank - 25,4 bln AMD,
Unibank - 9,3 bln AMD,
Inecobank - 9 bln AMD,
Acba bank - 7,5 bln AMD,
Evocabank - 5 bln AMD,
Converse Bank - 4,3 bln AMD,
AraratBank - 4 bln AMD,
Armeconombank - 2 bln AMD,
ArmSwissBank - 1,1 bln AMD,
VTB Bank (Armenia) - 0,76 bln AMD,

To learn more about the financial analyses for mentioned and other periods, please follow this link.