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Daily Archives: Dec 6, 2016

ACBA-CREDIT AGRICOLE BANK is revising its lending policy, CEO says

Banks
During a meeting with representatives of the business community of the northern Armenian province of Lori at the bank’s regional office ACBA-CREDIT AGRICOLE BANK CEO Hakob Andreasyan said the bank is revising its lending policy

EFSD council approves disbursement of second tranche of EFSD financial credit of US$ 100 million to Armenia

Economy
The Council of the Eurasian Fund for Stabilisation and Development (the EFSD, the Fund) has approved disbursement of the second tranche of the EFSD financial credit of US$ 100 million to the Republic of Armenia

Armenia’s national debt not to surpass 60% of projected GDP

Economy
In 2016 Armenia's overall national debt will not exceed 54.4% of the projected GDP, finance minister Vardan Aramyan said today when introducing a set of proposed amendments to the draft budget to parliament. He added that in 2017 it will grow to 56.2%

Armenian law to rule out abuse in securities market

Capital market
Armenia’s Parliament at a meeting on Tuesday passed in the second and final reading a set of amendments to the law "On the Securities Market" and a number of related laws

Dram deposits at Armenian banks surge by 29 percent

Banks
Bank deposits in Armenia’s national currency, the dram, surged by 28.7% year-on-year in 2016 September, while deposits in foreign currency saw a 12% rise, the central bank said in its regular inflation report

Yield on Armenian government bonds dropping

Capital market
The yield on Armenian government bonds is falling under the influence of protracted weakening of monetary conditions by the Central Bank, the regulator said in an inflation report

Median monthly gross salary in finance and insurance sector grew by 6.1% in September 2016

Economy
The gross median monthly salary in one of the highest-paid segments of the Armenian economy – finance and insurance- increased by 6.1% to 371,559 drams in September 2016 from the year before, according to the National Statistical Service (NSS)

Armenian central bank auctions short-term government bonds worth AMD 500 million

Capital market
The Central Bank of Armenia auctioned Monday AMGT5204C170 52-week government bonds worth AMD 500 million, the press office of the regulator told ARKA News Agency

Fitch projects Yerevan city’s operating revenue to grow 3% to AMD78bn in 2016

Economy
Fitch Ratings expects Yerevan to run a slight surplus before debt variation of 1%-2% of total revenue in 2016-2018, after an average deficit of 1% in 2011-2015. Fitch projects Yerevan city's operating revenue will total AMD78bn in 2016, up 3% yoy

Anelik Bank to raffle gold bars as part of its ‘Winter Offer’ campaign

Banks
Anelik Bank has announced the launch of its ‘Winter Offer’ campaign for those clients who have taken loans secured by gold, the press office of the bank reported on Monday

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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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