A decade of financial data on Armenia’s commercial banks
The banking sector is a key pillar of economic stability and growth, playing an important role in supporting businesses, households and the wider economy. Understanding how banks’ financial positions, performance and lending activities have evolved over time provides valuable insight into the development of the financial sector and the competitive environment in Armenia.
Grant Thornton Armenia has updated its analysis of the Armenian banking sector, extending the period covered to 2015–2025. The analysis brings together key financial indicators of Armenian commercial banks based on their audited financial statements and presents them through an interactive Tableau platform.
Covering 11 years of data, the analysis enables users to examine long-term trends, compare individual banks and assess changes in their financial position and performance over time.
What does the analysis cover?
The analysis is structured around five key areas of the Armenian banking sector:
General Information
This section presents the main financial indicators of Armenian banks by year and enables users to compare banks based on their financial characteristics.
A cluster analysis groups banks with similar financial profiles, helping identify common patterns and differences across the sector. The results are presented through tables, charts and visualisations, providing a clear overview of the relative positioning of banks and the characteristics of different groups.
Financial Position
The financial position of Armenian banks is analysed using key financial indicators for 2015–2025.
The interactive visualisations allow users to examine how individual banks are positioned within the overall distribution of selected indicators and how their position has changed over time. This provides a broader perspective on the concentration and distribution of financial performance across the banking sector.
Financial Results
This section examines the financial performance of Armenian banks through indicators such as profitability, income, expenses and other key financial measures.
The analysis allows users to assess both the overall development of financial results and the performance of individual banks. Banks can be compared based on selected indicators, while the interactive format makes it possible to track changes in their performance over the 2015–2025 period.
Loans
The analysis of loan portfolios provides insight into the lending activities of Armenian banks over time.
Loan portfolios are presented by different customer categories, together with the share of impairment reserves in relation to loan portfolios. The section allows users to examine the structure of banks’ lending activity and compare changes in loan-related indicators across institutions and over time.
Indicators
This section explores the relationship between selected financial indicators of Armenian banks.
By selecting a year and specific indicators, users can compare banks and identify those occupying leading positions for the selected measures. The dynamic presentation makes it possible to examine relationships between indicators and follow how these positions have evolved over time.
A long-term view of Armenia’s banking sector
The 2015–2025 timeframe provides a broader perspective on the development of Armenia’s banking sector, allowing changes in individual financial indicators to be viewed in the context of longer-term trends.
The interactive Tableau platform enables users to select a specific bank, indicator or period and explore the underlying data dynamically. This makes it possible to move beyond individual figures and examine how the financial position and performance of Armenian banks have changed over the course of the decade.
The analysis can serve as a useful reference for banks, financial institutions, investors, analysts, researchers and other stakeholders seeking to better understand the development of Armenia’s banking sector, compare financial performance and assess the competitive landscape.
Explore the full interactive analysis of the Armenian banking sector for 2015–2025:
View the analysis in Armenian here.
View the analysis in English here.
Data source: The analysis is based on the audited financial statements of Armenian banks for 2015–2025.
Note: To ensure comparability of the financial data, the analysis does not include Fast Bank’s 2022 figures.