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 portfoli…