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Daily Archives: Mar 24, 2021

VTB Bank (Armenia) expanding its partner network and car lending opportunities together with Kia Motors

Banks
VTB Bank (Armenia) keeps on expanding its partner network and car lending opportunities, unveiling attractive offers designed specifically for its customers wishing to purchase new cars from car dealerships, the bank said in a press release

The 21st issue of bonds of “National Mortgage Company” RCO CJSC to be listed on the Armenian Securities Exchange

Banks
As stated in the Bank, the nominal coupon bonds of the 21st issue of "National Mortgage Company" RCO CJSC will be listed on March 24 of this year on the Abond platform of the Armenian Securities Exchange. ARARATBANK OJSC — a member of the securities exchange since January 2009 — will act as a market maker of the bonds above

Armenian parliament raises fines imposed on banks for violating customers’ rights

Banks
The Armenian parliament has passed today in the second and final reading a bill that raises the amount of fines that may be imposed on commercial banks for violating consumer rights

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Armenia’s SRC doesn’t see details of citizens’ transactions: committee head – on banking secrecy

“When we talk about access to bank secrecy of a person, we mean the amount of his/her transactions. There is no access to the details of the transactions,” the head of Armenian State Revenue Committee  (SRC) Eduard Hakobyan told  a parliamentary discussion today on the universal income declaration.

Euro jumps 3.4 points to AMD 413.36

The average market exchange rate of the U.S. dollar to the Armenian dram on February 5, 2025, totaled AMD 396.58, down 0.13 points compared to February 4.

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.

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