Best bank: Ameriabank
A spike in Armenian bank M&A this year has underscored the growth opportunity for banks in the local market. The country’s best bank, Ameriabank, was bought by Bank of Georgia earlier this year, and Ardshinbank is in the process of acquiring HSBC Armenia.
Both banks have strong growth stories, made more compelling over the past two years by record profits driven by remittances from Russian immigrants and a sharp rise in interest rates.
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