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Daily Archives: Feb 6, 2013

VTB Bank (Armenia) reopens two renovated branches

Banks
The Russian owned VTB Bank (Armenia) has reopened today two renovated branches in Yeghegnadzor, the administrative center of Vayots Dzor province and in the town of Masis in Ararat province

At least 90% of money at pension funds should be channeled into development of public infrastructure: presidential candidate says

Capital market
At least 90% of money accumulated at pension funds should be channeled into development of public infrastructure through the issuance of long-term government bonds with reasonable return

Indars Aščuks appointed as NASDAQ OMX ARMENIA board member

Capital market
Indars Aščuks was appointed as NASDAQ OMX Armenia Supervisory Board Member, the stock exchange reported to ARKA on Wednesday

Anonymous steal personal information on 4000 people in banking industry

Banks
Personal information on some 4000 people in the banking industry, including bank officers, was posted online Sunday by the hacker collective Anonymous

Armenian government and 14 banks start unprecedented student loans program

Banks
The Armenian government and 14 Armenian commercial banks announced the start of a program designed to provide subsidized student loans. Education and science minister Armen Ashotyan told reporters the program is extremely important from the social point of view

Areximbank-Gazprombank Group now has permit from Armenia’s CB to join Intelexpress

Banks
The Central Bank of Armenia said Wednesday it had given to Areximbank-Gazprombank Group CJSC a permit to join Intelexpress international money transfer system

Credit card fraudsters stole more than US $200 million

Banks
Eighteen people have been charged in what may be one of the largest US credit card fraud rings, a sprawling international scam that duped credit rating agencies and used thousands of fake identities to steal at least $200 million, US federal authorities said

President: Armenia to eventually change over to mandatory health insurance

Exchange market
Armenia should eventually adopt compulsory medical insurance, presidential candidate, current president Serzh Sargsyan said

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Loans show faster growth than deposits in December – Finance Ministry

Financial intermediation by the Armenian banking system in December 2024 continued to outpace economic activity, also characterized by a higher growth rate of loans compared to deposits, according to the Armenian Ministry of Finance's report titled "Review of Macroeconomic Developments. December 2024." Unlike December 2023, the growth in loan volumes (24.2%) exceeded the growth in deposit volumes (13.9%).

Strong demand for mortgages and consumer loans keep interest rates high – Central Bank of Armenia

One of the phenomena faced by the Central Bank of Armenia is the huge demand for loan products, the regulator's head Martin Galstyan said at a press conference on Tuesday.

Armenia’s inflation in 2025 may approach lower threshold of target – Central Bank

The inflation target in Armenia for the current year is set at 3%, and by the end of 2025 it will most likely approach the lower limit, Central Bank Chairman Martin Galstyan said at a press conference on Tuesday.

Draft law on regulating crypto assets will soon be submitted to Armenian government

The draft law developed by the Central Bank of Armenia to regulate crypto assets will soon be submitted to the Armenian government for approval and then sent to parliament, the regulator's chairman Martin Galstyan said at a press conference today.

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