The commercial banks in Armenia recorded a profit of about 201 billion drams in January-June 2025; this is 16 percent more than in the same period in 2024. Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), announced this during a press conference on Friday.

According to Azatyan, all banks operating in Armenia paid about 107 billion drams in taxes to the state budget, and this is 25 billion drams more than in the first six months of last year.

He added that the assets of banks in Armenia amounted to 11.6 trillion drams.

Azatyan noted that 50 percent of loans by banks in Armenia were provided to individuals, 45 percent to legal entities, and the remaining 5 percent to various financial organizations.

A total of 66 percent of these loans were provided in Armenian drams, and 34 percent in foreign currency.

According to Azatyan, interest rates on loans by banks in Armenia have increased from 13.7 percent to 14.9 percent on average.

“The amount of deposits [in banks in Armenia] is 6.7 trillion drams, 46 percent of deposits are in foreign currency, 54 percent in drams. On average, the interest rate on deposits in drams is about 9.6 percent—a growth of 0.3 percent,” the head of UBA noted.

In general, interest rates on loans by banks in Armenia have increased more than the interest rates on deposits.

He noted that the share of non-performing loans by banks in Armenia has decreased by 0.1 percent, and reached 2 percent.

Daniel Azatyan added that 16,300 people currently work in the banking sector in Armenia.