CB of Armenia does not rule out establishment of and mergers of operating banks

Banks

YEREVAN, December 29, /ARKA/. Speaking Monday at an online news conference at www.armbanks.am Armenian Central Bank governor Arthur Javadian did not rule out establishment of new commercial banks and other financial-crediting organizations as well as mergers of operating ones.

He said the Central Bank did not receive any official application for opening a new bank or a merger of the existing ones. Citing rumors that several banks were negotiating such scenarios he said the Central Bank does not rule it out.

In his words, the Central Bank will support a consolidation of banks that would not hamper competition, but ‘this process should be pushed by market trends and never be imposed.’ Presently there are 22 commercial banks in Armenia. . -0-

spot_img

POPULAR

Economy

Armenia has benefited from capital transit, but its origins pose reputational risks – Tavadyan

The report of the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) on Armenia documented the country's progress in developing its anti-money laundering and counter-terrorist financing systems, but identified insufficient effectiveness in investigations, prosecutions, and confiscation of criminal assets, as well as the need for stronger oversight in several economic sectors.
Economy

MONEYVAL does not pose a direct threat to the Armenian economy, but requires balanced implementation of its recommendations – economist

The recommendations of the MONEYVAL report on Armenia do not pose a direct threat to the country's economy, but their implementation must be proportionate and not create unjustified barriers for bona fide businesses and investors, according to economist Hrant Mikaelyan.
Banks

Converse Bank Named Armenia’s Best Digital Bank for Consumers by Euromoney

Converse Bank has been named Armenia’s Best Digital Bank for Consumers by the internationally renowned financial publication Euromoney
Banks

Armenian banks increased net profit to 219.7 billion drams in the first half of the year

The combined net profit (after tax) of Armenian banks in the first half of 2026 amounted to 219.72 billion drams, compared to 200.7 billion drams in the same period of 2025, an increase of 9.48%.
Banks

Acba Bank to Support Armenian Exports

To support the development of local producers, promote Armenian exports to various countries worldwide, and enhance the competitiveness of Armenian businesses, Acba Bank is offering the best export factoring terms currently available in Armenia until September 30.

LATEST NEWS

spot_imgspot_imgspot_img
Previous article
Finance minister downplays speculations that foreign debt may reach 50% of its GDP
Next article
Government to step up work for turning Armenia into regional financial center only after overcoming crisis