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Daily Archives: Feb 14, 2020

Credit dollarization in Armenia declines to 51 percent

Economy
With a faster-growing dram-denominated loan portfolio, credit dollarization in Armenia declined to 51 percent at end of 2019 from 56 percent in 2018

In 2019 banking cards were used in Armenia to make 2.3 trillion drams worth transactions

Economy
More citizens of Armenia are using now banking cards to make various non-cash transactions, the executive director of the Union of Banks of Armenia Seyran Sargsyan told reporters on Friday

Armenian banks’ lending in 2019 grows by 10 percent to 3.572 trillion. drams

Banks
Armenian banks' lending in 2019 amounted to 3.572 trillion. drams, the executive director of the Union of Banks of Armenia Seyran Sargsyan told reporters on Friday

Armenia-based banks earn a total of 78 billion drams in profit in 2019

Banks
Seventeen Armenia-based commercial banks earned a total of 78 billion drams in profit in 2019, the executive director of the Union of Banks of Armenia Seyran Sargsyan told reporters on Friday

Total capital of Armenia-based commercial banks grew by 73 billion drams or by 9.5% in 2019 to 844.8 billion drams

Banks
The total capital of Armenia-based commercial banks grew by 73 billion drams or 9.5% in 2019 from the previous year to 844.8 billion drams, Seyran Sargsyan, the executive director of the Union of Banks of Armenia told reporters on Friday

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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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