In 2023, RA banks recorded a net profit of approximately $586mn.

By bne IntelliNews January 24, 2024

The Armenian banks' operations and income in 2023 were analysed and published by local media outlet banks.am. 

In 2023, Armenian banks recorded a total net profit of AMD230bn, which is 12% less than the previous year. Only two banks did not record a profit during this period.
Ardshinbank had the highest profit of approximately AMD63bn.

The ROAE index for the banking system in 2023 was 16.5%. Ardshinbank achieved the highest return on average equity (ROAE) at 37.2%.

The total credit portfolio of the banking system increased by 21% during the year. As of 31 December 2023, the total credit portfolio amounted to AMD5.036bn, which represents 55% of the total assets. The portfolio comprises both retail and corporate loans.

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