The turnover of the RA IT sector in 2023 at current prices was about 837 billion drams, 252 billion drams or 43% more than last year.
In January-June 2024, RA banks registered AMD 172 billion net profit, which is about 1.2 times higher than last year. The highest profit was registered by Ardshinbank (AMD 50 billion). All banks made a profit, but 4 out of 18 commercial banks recorded a decrease in net profit.
You can learn more about the IT sector of Armenia in the report prepared by Modex advisory company.
Note: The taxes paid by each company is calculated as the difference between the total amount paid by the company and the amounts returned to the unified account in terms of VAT and excise tax.
In 2023, RA banks registered AMD 230 billion net profit which is 9% less than last year. Ardshinbank registered the biggest profit with AMD 62.7 billion. All banks, except Artsakhbank and Armswissbank, operated with profit, however 6 out of 16 commercial banks recorded a decrease in net profit.