Sat, 5 April
13.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Commercial banks’ efforts to rid Armenia from economic crisis should be more vigorous

YEREVAN, February 26. /ARKA/. Commercial banks’ efforts to rid Armenia from the economic crisis should be more vigorous, Tatul Manaseryan, Armenian Parliamnet Speaker’s adviser on economic issues, said Thursday at a press conference.

“Banking system’s activity amid the crisis can’t be viewed satisfactory, if it doesn’t serve the real sector’s interests,” he said.

In his opinion, when the government bears responsibility for attraction of financial resources from international organizations, commercial banks should become agents of the state.

“The government can set interest rates, at which banks will distribute funds,” the expert said.

He said that this move would contribute a great deal to recovery of national economy.

Armenian banks’ aggregate credit portfolio reached AMD 698.9 billion by late December after growing 3.8% or by AMD 25.8 billion since November.

Their credit portfolio grew 13.1% or by AMD 88.1 billion, compared with the beginning of 2009.

Twenty two commercial banks with their 382 branches functioned in Armenia as of December 31, 2009.

Armenia recorded 14.4% economic decline in 2009.

In the 2010 state budget, GDP growth is planned at 1.2%. ($1 = AMD 382.41). –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top 10 banks of Armenia by loan portfolio for 1st H 2020

ARKA News Agency has singled out ten banks for their big loan portfolios as of June 30, 2020

Russian president gives Yerevan-based Balchug Capital permission to buy Gazprom, Inter RAO, and LUKOIL shares from Goldman Sachs

Goldman Sachs International will be able to sell minority stakes in a number of Russian blue chips to Balchug Capital CJSC, the same company that received permission from Russian authorities to buy the local banking unit of the American financial group.

LATEST NEWS

spot_imgspot_imgspot_img