Armenia's banking system profit in the first half of 2026 increased by 6.8% to 214 billion drams — UBA
04.08.2026,
16:37
The profit of Armenia's banking system for the first half of 2026 amounted to 214 billion drams, announced Daniel Azatyan, Chairman of the Union of Banks of Armenia.
YEREVAN, August 4. /ARKA/. The profit of Armenia's banking system for the first half of 2026 amounted to 214 billion drams, announced Daniel Azatyan, Chairman of the Union of Banks of Armenia.
According to his data, compared to the same period in 2025, this figure increased by 13.6 billion drams, or 6.8%.
Azatyan reported that Armenia's banking system capital at the end of June amounted to 2.2 trillion drams, an increase of 3.6%.
He also noted that banks have distributed dividends over the past six months. He attributed this, in particular, to the parliament's decision to increase the tax rate on bank dividends from 5% to 15%.
"Banks have always retained a large portion of their profits for use in banking operations. Given this change, there's likely a feeling that some of these profits need to be distributed," Azatyan said at a press conference on Tuesday.
Earlier, on July 3, parliament adopted amendments to the Tax Code and the Law "On State Duty," which provide for changes in the taxation of commercial banks. According to the amendments, the tax rate on dividends paid by banks to individuals and legal entities will increase from 5% to 15%, effective January 1, 2027.
Responding to a question about the slowdown in profit growth (profit growth in the first half of last year was approximately 20% - ed.), Azatyan stated that nothing extraordinary has happened in the banking system, and not a single bank has recorded a significant reduction in profit or loss.
According to him, the slowdown is due to two factors.
"The growth rates of previous years were more noticeable due to the low base," he explained.
Azatyan cited the end of the period of accelerated bank profit growth amid geopolitical changes as the second reason.
"Natural growth is underway now, and I believe that if we achieve 6-7% growth by the end of the year, that will be normal," he said.
According to his data, compared to the same period in 2025, this figure increased by 13.6 billion drams, or 6.8%.
Azatyan reported that Armenia's banking system capital at the end of June amounted to 2.2 trillion drams, an increase of 3.6%.
He also noted that banks have distributed dividends over the past six months. He attributed this, in particular, to the parliament's decision to increase the tax rate on bank dividends from 5% to 15%.
"Banks have always retained a large portion of their profits for use in banking operations. Given this change, there's likely a feeling that some of these profits need to be distributed," Azatyan said at a press conference on Tuesday.
Earlier, on July 3, parliament adopted amendments to the Tax Code and the Law "On State Duty," which provide for changes in the taxation of commercial banks. According to the amendments, the tax rate on dividends paid by banks to individuals and legal entities will increase from 5% to 15%, effective January 1, 2027.
Responding to a question about the slowdown in profit growth (profit growth in the first half of last year was approximately 20% - ed.), Azatyan stated that nothing extraordinary has happened in the banking system, and not a single bank has recorded a significant reduction in profit or loss.
According to him, the slowdown is due to two factors.
"The growth rates of previous years were more noticeable due to the low base," he explained.
Azatyan cited the end of the period of accelerated bank profit growth amid geopolitical changes as the second reason.
"Natural growth is underway now, and I believe that if we achieve 6-7% growth by the end of the year, that will be normal," he said.
