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Daily Archives: Nov 15, 2023

Daniel Azatyan elected chairman of the Union of Banks of Armenia

Banks
The general meeting of the Union of Banks of Armenia (UBA) has elected Daniel Azatyan as UBA Chairman for three years, the press service of the organization reported

VTB (Armenia) clients can receive money transfers from Russia without commission fee

Banks
VTB (Armenia) retail clients can receive cross-border money transfers from Russia without commission until the end of November, the bank said in a press release

Central Bank of Armenia’s gold and foreign exchange reserves exceed $4 bln. – governor

Exchange market
Armenian Central Bank’s gold and foreign exchange reserves have exceeded $4 billion, the regulator's head Martin Galstyan said today when asked whether it was possible to replenish the reserves at the moment, taking into account the possible devaluation of the Armenian dram

Byblos Bank Armenia Celebrates Education at CaseKey 2023 Gala

Banks
On November 10-12, the gala event of the CaseKey Business Case Competition 2023, whose title sponsor this year was Byblos Bank Armenia, was held at the Central Bank’s Dilijan Training and Research Center

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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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